As expected, the Fed Chair Powell is trying to calm the markets. Powell said that will communicate well in advance of any changes to the bond buying pace; vow to keep rates near 0 until full employment and inflation rises to 2% and is on track to moderately exceed this for some time. Economic momentum has slowed substantially after summer rebound and economy is a long way from employment and inflation goals. Although the number of new Covid-19 cases and hospitalizations has been falling, and ongoing vaccinations offer hope for a return to more normal conditions later this year, the economic recovery remains uneven and far from complete, and the path ahead is highly uncertain, he added. There's nothing new here but yields are starting to move higher again with US 30s now up 4 bps to 2.21%. US indexes also rose slightly. The Q&A session will begin shortly.
US100 bounced off the support at 12 755 pts and is heading towards psychological lelvel at 13 000 pts. Source: xStation5
