Markets rally fades as traders nervously await Powell speech

By Agence France-Presse

Aug 24, 2023 12:12 am

Sentiment has taken a hit in recent weeks owing to a spike in US Treasury yields to around 15-year highs, fueled by expectations that a strong economy will allow the Federal Reserve (Fed) to stick to its campaign of monetary tightening.

That has forced investors to push back their expectations of when borrowing costs will eventually come down, having just a few months ago been betting on a cut by the end of the year.

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