Treasury Yields Fall as Fed Officials Indicate Reluctance to Raise Rates
The market for metals and other raw materials experienced a boost as concerns surrounding interest rates eased. This was fueled by a significant drop in Treasury yields, following comments made by Federal Reserve Vice Chairman Philip Jefferson and Fed Bank of Dallas President Lorie Logan. Both officials expressed hesitation towards further interest rate hikes, with Logan even suggesting that the recent movement in Treasury yields had already accomplished the policy tightening that the Fed had aimed for.
As a result of these remarks, the Fed funds futures markets eliminated the possibility of any future rate increases.
Signs of Potential Rebound in Industrial and Construction Demand in China
There are indications that industrial and construction demand in China may be on the cusp of a recovery, highlighted by the recent surge in iron-ore prices, as reported in The Wall Street Journal.
Gold Futures Continue to Gain Amidst Concerns of Israel-Hamas Conflict
Gold futures, often seen as a safe haven during times of economic crisis and geopolitical tension, continue their upward trajectory due to ongoing worries surrounding the Israel-Hamas conflict.
