⬇Hawkish remarks from FED members and fresh data put pressure on US stocks
US100 fell 3.3% giving back some of the sharp gains seen in the previous session
US100 fell 3.3% giving back some of the sharp gains seen in the previous session
as bond yields resumed their upward march following recent data and fresh hawkish comments from FED members raised concerns of inflation becoming even more entrenched.
Better than expected claims figures indicate that the labour market remains resilient and may withstand additional rate hikes. Hawkish rhetoric adopted by several Fed policymakers about the central bank’s battle against inflation also weighed on market sentiment.
Fed Mester said policymakers are not at a point where they should consider halting rate hikes. In her opinion inflation is expected to fall, but we will need a higher Fed funds rate to achieve that.
Fed Bullard said there's a risk management emphasis, which means we need to stay higher for longer.
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