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Three reasons why markets turned around today

US 10-year yields are back above 4%, rising 16 basis points today. That is the best instrument to tell the story of why US stocks started red hot and have quickly cooled. It's the combination of several things, starting with (1) strong US data today, including a great GDP report and low initial jobless claims. Powell yesterday pushed to keep the idea of a September rate hike alive and while that's only risen to 22% from 20% today, there's a plausible scenario where the US economy heats up.Feedin... Read More

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Content Topics

Three

Reasons

Markets

Turned

Around

Today

Forex

Posted: Jul 27 2023, 18:50

Author Name: forexlive

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