Stock Market Update: Strong S&P 500 Performance, Yen Leads Amid Quiet FX Market
Wednesday, 27 March 2024, 22:15
Market Summary
The S&P 500 gained 45 points, gold rose $15, and US 10-year yields declined. FX market movements were modest due to quarter-end and limited economic data. The euro and pound showed minor shifts, while the yen saw attention amid potential intervention threats.
Key Insights
- Stocks & Yields: S&P 500 up, US 10-year yields down after strong bond sale.
- FX Market: Quiet trading with small moves; yen in focus post-intervention threats.
- Upcoming Data: Japan set for CPI, retail sales, employment, and production releases.
The US rates market is stepping back from macro trading, with reduced volatility suggesting a June rate cut. Market participants are holding core positions with little incentive to add new ones.
Comments from Waller could bring back volatility to the market.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.