Markets Cautious as Traders Await Fed Signals on Rates
-
Treasury yields and dollar hovered above multi-week lows as markets weighed another rate hike and awaited Fed Chair Powell's comments.
-
Crude oil sank to a three-month low after data showed a steep build in U.S. stockpiles; worries about Chinese economy weighed on demand outlook.
-
Equities were mixed in Asia, with tech stock gains offsetting slumping commodity shares.
-
Expectations have built that U.S. policy rates have peaked and cuts could begin in May, following soft jobs data and tempered Fed hawkishness.
-
Declines in commodity shares amid lower energy prices were offset by a climb in growth stocks on expectations for lower borrowing costs.