Investors were pleased with Federal Reserve Chair Jerome Powell’s speech at the Jackson Hole Economic Policy Symposium, leading to a rally in the U.S. bond market. Powell hinted at a potential change in monetary policy without making any promises, leaving room for rate cuts in September. The iShares Core U.S. Aggregate Bond ETF saw its biggest daily gain since June, and Treasury yields dropped significantly. Powell addressed risks to inflation and employment, suggesting a careful approach to policy changes. The bond market reacted positively to the speech, while U.S. stocks also rallied, with the Dow Jones closing at a record high.

Read more at Yahoo Finance: Bond market rallies after Powell ‘walked a fine line’ with Jackson Hole speech