The latest, hawkish, commentary from Fed chair Jerome Powell has given US bond yields an additional boost with the interest-rate sensitive UST 2 year now offering 2.16%, its highest level in around three years. Get your market update from nickcawley1 here:
The latest, hawkish, commentary from Fed chair Jerome Powell has given US bond yields an additional boost with the interest-rate sensitive UST 2 year now offering 2.16%, its highest level in around three years. With the real possibility that the Fed hikes rates by 50 basis points at the May 5 meeting, short-dated UST yields will remain at these levels or move ever higher as the Fed accelerates monetary policy tightening.
as sellers sold the precious metal back down to prior supportive levels. Since gold’s peak, the precious metal has posted 11 lower highs over the last 13 days, highlighting the weakness in the market. Gold seems to have settled either side of $1,916/oz. and old swing high from June 1 2021 and just below the 61.8%A break and open below $1,916/oz. will leave bears looking at a zone between $1,870/oz. and $1,877/oz. based on the 50% Fibonacci retracement and the November 16 swing high.
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