FILE PHOTO: A man wears a protective mask as he walks on Wall Street during the coronavirus outbreak in New York City, New York, U.S., March 13, 2020. REUTERS/Lucas Jackson
That’s good news for income-seeking investors at a time when a series of rapid interest rate cuts by the Federal Reserve has taken U.S. Treasury yields to near zero, sending market participants further afield in search of steady payouts. U.S. financial markets are closed on Friday for the July 4th holiday. On Monday, data firm IHS Markit reports its surveys of U.S. business activity, while Walgreens Boots Alliance Inc reports quarterly results on Thursday and U.S. initial jobless claims are also due out that day.
“The hope is that we have turned a corner, but that is going to depend on the reopening of the economy,” Silverblatt said.
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