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Thursday, August 18, 2016

World stocks rise, dollar weakens on divided Fed...

August 18, 2016
World stocks rose and the dollar sank to a seven-week low on Thursday after minutes of the U.S. Federal Reserve’s latest meeting showed policymakers were divided over whether to raise interest rates soon.
Recent comments from Fed officials suggested a hike in the world’s largest economy could be on the cards as soon as next month, but signs of restraint within the rate-setting committee brought relief to markets, sending global bond yields lower.
“No news is good news,” said Subadra Rajappa, head of U.S. rates strategy at Societe Generale.
“With little clarity on the timing of the next rate hike in the minutes of the July meeting, bonds rallied, the dollar
fell and risky asset recovered.”

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