As financial markets react to election outcomes and shifts in economic policy, the question on everyone’s mind is: Does the Federal Reserve still matter in this environment? With bond yields moving rapidly and the financial world bracing for the Fed’s upcoming announcement, this press release provides insights into the impact of recent events on market rates and broader financial conditions.
In anticipation of the Fed’s expected 0.25% rate cut on Thursday, market analysts note that recent bond movements may have already absorbed much of the impact, reducing the likelihood of a substantial effect on mortgage rates. In recent weeks, the bond market has adjusted to new probabilities shaped by political events, which have exerted upward pressure on rates. With 10-year Treasury yields spiking to 4.5% overnight following the election, it seems that market reaction has often preceded traditional news outlets, with rates climbing in response to anticipated Fed actions.
Adding a lively twist to the day’s financial news, sports fans witnessed Stephen Curry’s near triple-double performance last night, scoring 27 points and leading the Golden State Warriors to a 118-112 victory over the Boston Celtics. Curry’s nine assists, seven rebounds, and four steals, coupled with key performances from Buddy Hield and Andrew Wiggins, helped the Warriors extend their winning streak to five games. The high-stakes game saw intense moments, including Kevon Looney’s pivotal put-back layup and Buddy Hield’s late three-pointer, which secured the Warriors’ seven-point lead in the final seconds.
Meanwhile, Warriors Head Coach Steve Kerr’s appearance at TD Garden drew mixed reactions from Celtics fans still mindful of his decisions regarding Jayson Tatum’s playing time during the recent Paris Olympics. The Celtics, led by Jayson Tatum’s 32-point showing, displayed resilience despite the absence of star player Jaylen Brown.
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