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Marketmind: Waiting for word from the Fed chief

Markets are largely in a holding pattern, with investors looking to two days of commentary from Fed Chair Jay Powell starting later in the day for a steer on whether U.S. rate hikes are indeed done. Last week's surprisingly soft jobs data heightened expectations that interest rates had peaked, but Fed commentary since then has warned against complacency in the fight against inflation. For now, investors have dialled up wagers on near-term rate cuts, with the Fed funds rate showing better than 50/50 odds for one as early as May. The dollar's prospects have also softened in line with the more sanguine outlook on rates. ....

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