Fri, Nov 8, 2024 3:11 PM
Vedanta Q2 Results: Lower taxes aid return to profitability
A Flip by Shubhangi Gupta
US yields aren’t far from levels that would lure investors from stocks into bonds, according to the chief investment officer of Amundi SA, Europe’s biggest asset manager. The benchmark yield jumped as high as 4.48% following the Nov. 5 election, before retreating back to around 4.33% after the Federal Reserve cut its main interest rate by a quarter percentage point on Thursday.
Open Flip
Futures tracking the benchmark S&P 500 were trading above the 6,000-point mark on Friday, with equity markets set for an upbeat end to an action-packed week that saw Donald Trump recapture the U.S. presidency and the Federal Reserve cut rates. Futures for all three major indexes were little changed in early trading after S&P 500 futures passed the milestone for the first time on Thursday.
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Bond traders looking for Jerome Powell to reignite a rally came away disappointed after the Federal Reserve cut interest rates as expected but gave little away about the path ahead. Treasuries inched higher, adding to gains clocked Thursday. The 10-year yield edged down two basis points to 4.31%, taking the drop this week to eight basis points.
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