NEW YORK (dpa-AFX) – After the latest rally, US stock markets were held back on Monday. The main Dow Jones Industrial index
By the end of last week, hopes for more moderate rate hikes had buoyed markets. These were triggered by a somewhat sharper-than-expected weakening in consumer prices in October on Thursday. As a result, the yield on 10-year US Treasuries fell sharply, while the tech-heavy Nasdaq stock market rallied sharply. It had recently been greatly affected by the prospect of still very restrictive action by the Fed.
A small countermove ensued at this point: yields increased slightly. The US dollar appreciated against many other major currencies. Postbank experts referred to statements by Fed Governor Christopher Waller. He said there was still “a long way to go” to fight inflation. /ck/jha/
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