US bond yields and the dollar rise after Powell’s reappointment as Fed chair
The reaction of the markets seems totally disproportionate, but the announcement of the reappointment of Jerome Powell as head of the Fed for a second term has…
The release of the Fed minutes did not have any significant impact on markets, as the overall message remained strongly dovish, in line with consensus expectations. Equities and bonds remained rather stable as well as the USD, although the EUR/USD exchange rate briefly topped 1.19 yesterday. The sharp widening in the US trade deficit confirms the crucial role of the US economy in the global recovery.
Get more analysis and data with our Premium subscription
Ask for a free trial here