Markets rally on Powell's labor market focus, expectations of 50 basis points cut in September.

From Yahoo Finance: 2024-08-26 00:32:25

Asian and global markets rally on Monday, with yields and dollar down, except for Nikkei due to yen climb. Oil prices rise by 0.7% after Israel and Hezbollah attacks. Powell prioritizes labor market health over inflation, sparking expectations of 50 basis points cut in September. Ten-year yields near two-year rates, curve may soon turn positive. Atlanta Fed GDP slows to 2.0%, EU inflation data due Friday may impact ECB cuts. Nvidia’s earnings on Wednesday crucial to maintain high p/e ratio. Riksbank minutes, German Business Climate Ifo, U.S. durable goods order, Dallas Fed survey and Fed speeches to influence markets on Monday.



Read more at Yahoo Finance: Markets reassured by the Powell put