The dollar was headed for its best week against the yen in three months on Friday, after Federal Reserve Chair Jerome Powell and a chorus of Fed officials poured cold water on market expectations of a peak in U.S. rates. In cryptocurrencies, bitcoin and ether held near multi-month highs, with renewed speculation over the imminent approval of an exchange-traded bitcoin fund breathing new life into the digital assets. A slew of Fed policymakers including Powell on Thursday said they are still not sure that interest rates are high enough to finish the battle with inflation, comments taken as hawkish by markets and which sent the greenback rising.
Meta Platforms reached a deal that will open its virtual reality headset to the Chinese market and Trade Desk shares plummeted after weak guidance over impact from the autoworkers’ and actors’ strikes. Here’s what investors need to know today.
(Bloomberg) The jump in US Treasury yields above 5% on Monday set off renewed investor tumult but is unlikely to trigger concerns at the Federal Reserve unless the rise becomes more volatile or persistent.Most Read from BloombergWall Street Trading Rattled by Wild Treasury Moves: Markets WrapAn Oil Giant Quietly Ditched the World’s Biggest Carbon Capture PlantTreasury 10-Year Yield Breaches 5% for First Time Since 2007US Push for Release of Hostages May Delay Israeli Ground War, But Won’t Sto