On Monday, 15th March 15, 2021, global stock prices rose sharply, while the US bond yields hovered near a 13-month high, as investors bet that the US economy will pick up speed after the passing of a major stimulus package.
When the Federal Reserve released its new economic projections at the conclusion of the Federal Open Market Committee (FOMC) meeting on Wednesday, rising inflation expectations are estimated to push the Federal to signal that it will begin raising rates faster.
“As a result of the fiscal stimulus programs, Fed GDP forecasts will inevitably be revised up, and some FOMC members may think prices will have to leap higher sooner than they predicted last December,” wrote ANZ economists.
The 10-year US Treasury yield was 1.638 % in early Monday trading, having risen to 1.642 % on Friday, the highest amount since February of last year.
The 10-year US Treasury yield was 1.638 % in early Monday trading, having risen to 1.642 % on Friday, the highest amount since February of last year.
The dollar rises against other major currencies as US bond yields increased. The euro fell to $1.1953 from $1.1990 last week, while the dollar held steady at 109.07 yen, close to a nine-month high of 109.235 set last Tuesday.
The value of the British pound fell 0.25 % to $1.3934.
After Reuters announced that a senior Indian Government Official said Delhi would propose a law prohibiting cryptocurrencies, fining anybody in the country selling or even owning such digital assets, bitcoin fell to $59,691, off from a record high of $61,781 set on Saturday.
Production cuts by major oil producers and hopes of a demand recovery as the global economy recovers from the pandemic-induced recession lifted oil prices.
