XOM - Stocks In The Red Bonds On The Rise As Investors Brace for FOMC Minutes Crucial CPI Report: What's Driving Markets Wednesday? | Benzinga
Risk sentiment weakened during Wednesday trading on Wall Street, following significant gains in the previous session. This shift was triggered by higher-than-expected producer inflation, reigniting concerns ahead of the crucial consumer inflation report scheduled for Thursday.
Traders were also eagerly anticipating the release of the Federal Reserve Open Market Committee meeting minutes at 2 p.m. ET, hoping for more clarity regarding the positions held by committee members.
Recent statements from Fed officials have generally hinted at a more dovish stance, suggesting a potential pause in the ongoing interest rate hike campaign. Yet Michelle Bowman‘s remarks on Wednesday hinted at the possibility of additional rate hikes to combat inflation.
In the Middle East, the geopolitical landscape has grown increasingly complex, with Israel making preparations for a siege of Gaza, while Iran, Lebanon and Syria have condemned the actions of the Israeli Defense Forces.
The bond market experienced a rally following weeks of rising yields. The 10-year Treasury, as tracked by the US Treasury Note ETF (NYSE:UTEN), rose by 0.6% during the session, as yields saw a 7-basis point drop to 4.58%. The 30-year Treasury, closely monitored through the iShares 20+ Year Treasury ETF (NASDAQ:TLT), surged by 1.8% in the session, resulting ...