S&P 500 down 1.1%, stocks head for third straight loss, as investors brace for higher rates for longer
September 22, 2023
WTI Oil Prices Remain Steady Near $90 a Barrel
September 25, 2023Treasury yields recede from Thursday’s highs as markets take in the Fed’s renewed higher-for-longer pledge. The 10-year is at 4.470% and the two-year at 5.127%. Yields “remain in a position to score new gains,” Spartan’s Peter Cardillo says in a note. Markets refuse to price another interest rate increase, belying FOMC projections. In the CME’s FedWatch tool, odds of a November hike are 27%, versus 73% for a hold. Upcoming data could determine which side prevails. Next week brings PCE inflation, housing and labor gauges, among other indicators.
