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tradabulls · 5 days ago
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US Fed Meeting Highlights
Interest Rate Cut: The Federal Reserve cut its benchmark lending rate by 25 basis points to 4.5%, marking the second rate cut in 2024. 
Impact on Bond Yields: Despite the expected rate cut, a lack of guidance on future policy from Fed Chair Jerome Powell caused a sharp drop in US bond yields. The 10-year Treasury yield fell by 11 basis points to 4.33%, while 30-year Treasuries saw significant losses before slight recovery. 
Global Market Reactions:  a. Wall Street: Indices reached fresh record highs following the rate cut.  b. Indian Market: The Nifty 50 index stayed over 2,000 points below its record high of 26,277.35. 
Commodities:  a. Crude Oil: Prices fell, with Brent Crude down nearly 3% for the week. Trump’s presidency continues to weigh on oil, while markets consider potential stimulus from China.  b. Gold: Prices dropped as the US dollar strengthened after Trump’s re-election, impacting gold valuation. 
China's Influence: The conclusion of the National People’s Congress Standing Committee meeting today may provide important cues for global markets. 
For more market updates, visit TradaBulls.com. 
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