real-time news and commentary for investors
Wednesday, Jul 31
Bonds cut losses after FOMC
- The 10-year Treasury yield - as high as 2.69% earlier - retreats to 2.62% in the wake of the dovish Fed statement, (TLT -0.1%), (TBT +0.3%).
- Stocks added a few points, but are about where they were pre-statement, (SPY +0.3%), (QQQ +0.3%), (DIA +0.1%).
- More from the FOMC statement: The committee takes notes of the rise in mortgage rates as restraining economic growth.
- Notably not dissenting today is Jim Bullard who dissented to June's policy statement - not liking its hawkish tilt in light of inflation below target.
- Kansas City's Esther George continues her string of hawkish dissents.