Stocks dipped and the dollar edged up on Tuesday after a Federal
Reserve official's remarks appearing to make a near-term rise in U.S.
interest rates less likely only partially calmed investor nerves before a
speech from ECB chief Mario Draghi.
Fed Governor Lael Brainard on Monday cautioned
against removing support for the U.S. economy too quickly. Her words
weakened the dollar and sent U.S. stocks soaring.
But any sense of calm in markets looked fragile after three volatile
trading days that saw bond yields soar and stocks rack up heavy losses,
on concern monetary policy was reaching its limits as a tool to lift the
global economy.
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