Analyst: Powell's testimony doesn't seem to shake expectations for two rate cuts this year
2024-07-09 14:36:30
Agencies Analysts Powell Securities Word Published Before US Treasuries Yields Alreadydesk3cryptocurrencydesktopCrypto News
Institutional Analyst: Treasury yields had already started to fall before Powell's testimony was released, falling to new intraday lows at the time of the testimony, but then quickly rebounded. The dollar rallied and risk assets rose. Powell's remarks were an attempt to send a message that risk is balanced. In his prepared remarks, nothing seemed to change market expectations for two rate cuts this year.
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