UBP says Fed silence lifts long-end Treasury yields, pressures dollar - SPY News | RalliesUBP says Fed silence lifts long-end Treasury yields, pressures dollar
S
SPY• Fed hold lifts long-end yields and pressures dollar
- Union Bancaire Privée flagged a jump in long-end yields as the Fed held rates at 3.5%-3.75% with little guidance, weakening the dollar.
- The curve steepened; 10-year Treasuries ended at 4.73% while 30-year yields hit year-to-date highs, near mid-2007 levels.
- The Fed vote split 9-3 with three hawkish dissents for a 25-bp hike; markets price roughly a two-in-three chance of September tightening.
- Global equities rose despite higher-for-longer pricing; MSCI ACWI total return gained 1.4% as earnings strength offset rate headwinds.
- FX volatility rose; Japan intervened with over USD 50 billion, pushing USD/JPY from just below 164 to around 158.
A
Whole Foods ban on Black Lives Matter apparel was lawful, US labor board rules
AMZN•
