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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.
#us politics#politics#interest rates#bond yields#wall street#indian market#crude oil#Gold#China's Influence#tradabulls#us dollar#npc
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