Global Markets Hold Breath as Fed Officials Prepare to Speak
Global shares paused as bond yields rose ahead of speeches by Federal Reserve officials. Investors are keen on insights about future U.S. interest rates. Oil prices eased after a surge, and the yen saw fluctuations amid currency market movements. The Swiss National Bank maintained its interest rates.
Global shares came to a standstill on Thursday with bond yields creeping higher. This comes as market participants wait for speeches from Federal Reserve officials, hoping they will shed light on the trajectory of U.S. interest rates.
The European STOXX 600 index saw a slight decline of 0.3%, as the region took a breather from a significant rally in global stocks. Meanwhile, U.S. jobless claims and second-quarter GDP reports are on the horizon, leading up to crucial inflation data due on Friday.
Oil prices began to backtrack after a 2% jump on Wednesday, influenced by reduced U.S. crude inventories and uncertainty surrounding supply from countries like Iraq and Venezuela. Investors have been cautioned regarding equity valuations by Fed chair Jerome Powell, who described them as "fairly highly valued."
(With inputs from agencies.)
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