Reported 12 months ago
Global stocks rose slightly while US Treasury yields decreased as the market considered Federal Reserve Chair Jerome Powell's comments and tight labor market data. Powell mentioned that the Fed needs more information before reducing rates to ensure weak inflation readings reflect genuine price pressures. Despite a modest increase in job openings, bond yields decreased due to Powell's dovish tone, leading to the dollar nearing its highest level against the yen in nearly 38 years.
Source: YAHOO