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Bonds Rally, Dollar Rebounds as Fed Spurs Caution: Markets Wrap

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Government bond yields withdrawn while US equity futures and European stocks fell on Thursday, when investors digested a tough lurch of political decision makers in the world's largest economy. The dollar recovered after Wednesday's loss.

The yield of 10-year Treasuries extended a drop from a day earlier, the prices went down in Europe and gold climbed as a cautious mood that plunged into the wake of this week's Federal Reserve meeting. Prospects for the three largest US stock meters pointed to a decline in the open, with the pharma giant Biogen plunging into early trading after stopping an Alzheimer's drug test. Stoxx Europe 600 also withdrew among mixed national benchmarks. Asian stocks bucked the trend, with the regional index rising even though Hong Kong stocks fell and Japanese markets closed for a holiday.

While simpler monetary policies in the US at first glance look supportive to risk orders, most have already made stronger gains in 2019, and that was probably a talented Fed. At the same time, the scope of the central bank's tilt has drawn the outlook for growth to be weaker than the idea. The Treasury dividend had already been worried about global expansion in recent weeks – they are now plumbering the lowest levels for more than a year.

Read more about Fed fallout:

Powell aims to avoid Japan deflation Fell with Dovish Fed TiltTraders Rate-Cut Bets Shift Goalposts for Fed Playing CatchupDovish Fed gives EM Bulls Another win as currencies, stocks increase this may be dollar disaster bears have been waiting for

elsewhere, the pound slumped as pressure built on theresa may to gather a majority for her Brexit deal. U.K. Prime Minister is hunting with the EU over an extension to March 29 for the UK to exit the block, threatening to increase the chances of a non-contractual departure. The Norwegian krone jumped as the national central bank increased prices, while the Swiss national bank kept interest rates on the bedrock.

In Asian foreign exchange markets, the yuan rose after China's central bank set its daily rate at its highest since July. New Zealand and Australian dollars achieved good financial data. And the de facto central bank in Hong Kong again bought the local dollar after the city's exchange rate fell to the weak end of its trading band against the greenback.

These are the main features of the markets:


The future of the S&P 500 index fell 0.4 percent from 7:36 am New York time to the lowest in one week at the biggest downturn for two weeks. The Stoxx Europe 600 Index went down 0.3 percent to the lowest in one week. s FTSE 100 index jumped 0.5 percent. The MSCI Asia Pacific Index increased 0.4 percent to the highest for nearly six months. The MSCI Emerging Market Index increased 0.3 percent to the highest for more than seven months.


Bloomberg Dollar Spot Index increased by 0.3 percent, the first shift in one week. The euro reduced 0.2 percent to $ 1,1389, the first retreat for one week and the biggest decline in two weeks. The British pound fell 0.6 percent to $ 1.3113, the weakest for more than a week on the biggest fall of a week. The Japanese yen increased 0.1 percent to 110.54 per dollar and hit the strongest in nearly five weeks with fifth straight ahead.


Return on 10-year government bonds decreased by two basis points to 2.51 percent, Lowest for more than 14 months.Germany's 10-year return dropped 4 basis points to 0.04 percent, the lowest on more than two years on the largest thumb for two weeks. Britain's 10-year return was unchanged at 1.083 percent.


Gold increased 0.3 percent to $ 1.315.96 an ounce, and hit the highest in more than three weeks with fifth consecutive progress. West Texas Intermediate Crude reduced 0.8 percent to $ 59.74 a barrel, the biggest dip for nearly two weeks.

– With the help of Adam Haigh.

To contact the reporter on this story: Samuel Potter in London at

To contact the editors responsible for this story: Samuel Potter at, Yakob Peter, Todd White

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