Thursday, 08 Jul 2021 07:18 AM MYT
US stock prices bounced off session lows to post slight gains for the day, with the S&P 500 and tech-laden Nasdaq closing at record highs. Reuters pic
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NEW YORK, July 8 ― US Treasuries prices maintained gains yesterday, holding down yields, and two stock indexes notched record highs after minutes from the Federal Reserve s latest meeting largely confirmed market expectations. The dollar remained firm.
At a mid-June meeting, Fed officials said substantial further progress on economic recovery “was generally seen as not having yet been met,” although participants expected progress to continue, according to the minutes.
By Alwyn Scott NEW YORK (Reuters) -U.S. Treasuries prices maintained gains on Wednesday, holding down yields, and two stock indexes notched record highs after minutes from the Federal Reserve s latest meeting largely confirmed market expectations. The dollar remained firm. At a mid-June meeting, Fed officials said substantial further progress on economic recovery was generally seen as not having yet been met, although participants expected progress to continue, according to the minutes. Various participants at the session still felt conditions for curbing the bond-buying that is supplying markets with cash would be met somewhat earlier than they had anticipated, while others saw a less clear signal from incoming data, said the minutes.
EMERGING MARKETS-Latam FX cut losses after Fed minutes msn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from msn.com Daily Mail and Mail on Sunday newspapers.
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Gold futures surged last week because a drop in U.S. Treasury yields pressured the U.S. Dollar. Lower interest rates decrease the opportunity cost of holding non-yielding bullion, while a weaker U.S. Dollar tends to drive up foreign demand for dollar-denominated gold.
Last week, June Comex gold settled at $1831.30, up $63.60 or +3.60%.
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CHICAGO: U.S. Treasury yields rebounded after hitting two-month lows on Friday following data that showed a much smaller-than-expected jobs gain in April, with yields on longer-dated debt rising for the session as investors remained confident the economy was on the road to a strong recovery.
The benchmark 10-year yield, which dropped to 1.469 per cent, the lowest since March 4, was last up 1.6 basis points on the day at 1.5771 per cent, holding below a 14-month high of 1.776 per cent reached on March 30. The 30-year yield tumbled to its lowest level since March 1 at 2.158 per cent. It was last 4.4 basis points higher at 2.28 per cent.