US Yields Hit 2024 Highs as GDP Dashes Fed Hopes: Markets Wrap
Written by Black Hot Fire Network on April 25, 2024
(Bloomberg) -- Wall Street was rattled by data that showed exactly what traders did not want to hear: a sharp slowdown in the world’s largest economy and stubborn inflation.
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Treasuries sold off, with yields hitting fresh 2024 highs as the economic figures fueled “stagflation” jitters — bringing more uncertainty to the path of Federal Reserve policy. Swap traders pushed back the timing of the first rate cut to December. Equities also struggled, but trimmed most of an earlier slide amid a rally in two heavyweights: Nvidia Corp. and Tesla Inc. The gains . . .
