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Stocks, US yields gain ahead of Fed chair Powell's Jackson Hole speech

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NEW YORK/LONDON : Global equity markets and U.S. Treasury yields rose on Tuesday as positive U.S. vaccination news lifted sentiment, and as investors grew less worried the Federal Reserve was set to announce a timetable for tapering stimulus measures.Fed Chair Jerome Powell is to speak on Friday at the Fe

NEW YORK/LONDON : Global equity markets and U.S. Treasury yields rose on Tuesday as positive U.S. vaccination news lifted sentiment, and as investors grew less worried the Federal Reserve was set to announce a timetable for tapering stimulus measures.

"I can't see a shift in monetary policy in the next two to three months", said Mikael Jacoby, head of continental European sales trading at Oddo Securities in Paris. Spiking COVID-19 infections caused by the highly contagious Delta variant have fuelled concerns about the recovery, but the U.S. Food and Drug Administration granted full approval on Monday to the COVID-19 vaccine developed by Pfizer Inc, raising hopes inoculations could accelerate.

The dollar eased further as risk-related currencies benefited from rising commodity prices and markets digested data showing the U.S. economy in strong recovery mode.

 

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