Equities up, bond yields and the USD down after Jackson Hole
The markets welcomed the Fed Chairman’s speech at the Jackson Hole symposium. He confirmed the strong likelihood that the Fed will begin to reduce its…
Purchasing managers’ indices continue to be close or at historical highs in the manufacturing industry, pointing to strong growth in this sector. The small decline in the US ISM only shows that activity has ceased to accelerate in April. Bond yields are marginally down and the USD is rather stable: the EUR/USD exchange rate is trading in a narrow range around 1.2030.
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