Investors shifted their focus from President Trump to the speed at which the Fed wants to increase the base rate in the country. At present, the dollar is strengthening against its main competitors, the market for bonds falls and the stock rises. Better data from China prompted most industrial metals to appreciate. Shares of mining companies have also risen.
Bloomberg Dollar Spot index rose to a one-month peak, while the yield on 10-year government securities in the United States reached a weekly peak. Bank shares rose considerably after it became clear that the ability to raise rates in March reached 80%.
The statement of Trump missed a clear message to investors about what thoughts do with tax changes and external migration policy. He mentioned that there will be tax changes and spending on infrastructure, but did not announce any dates or volumes. He called on Americans to renounce conflict and all together to rebuild factories in the country. He stressed also the replacement of Obamacare.
This Friday Janet Yellen will speak in Chicago, and investors will listen carefully and will look for clear guidelines on when and how much will be raised interest rates.
Here are the basic movements at the time:
Currencies
Stocks
Bonds
Commodities
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