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21:32
Canadian stock market closed down about 1.9%, two-year Canadian bond yield rose more than 9 basis points
On Wednesday (March 18), during the North American late trading session, the yield on Canada's 10-year benchmark government bond rose by 6.8 basis points, reaching a daily high of 3.454%, and continued to climb overall, with a significant increase during Federal Reserve Chairman Powell's press conference. The yield on the two-year Canadian bond rose by 9.5 basis points to 2.757%; the five-year Canadian bond yield increased by 8.2 basis points to 3.022%. The Mexico Composite Index closed down 0.63% at 65,779.23 points, with losses expanding since 02:30. The Mexican peso fell 1.10% against the US dollar, quoted at 17.8541 pesos. The Brazil São Paulo Stock Exchange Index closed down 0.43%, falling below 180,000 points. The Brazilian real dropped 1.43% against the US dollar, quoted at 5.2676 reals, with losses expanding again since 02:00. The Turkish lira remained generally stable against the US dollar at 44.22 lira, but plunged below 44.4230 lira since 05:00, with a nearly 0.3% decline in the past 24 hours. The Argentina MERVAL Index closed up 1.04% at 2.691 million points.
21:18
Fitch: If oil prices rise briefly, the likelihood of a Fed rate cut in June increases
ChainCatcher news, according to Golden Ten Data, Brian Coulton from Fitch Ratings stated that if the oil price increase triggered by the Middle East war proves to be temporary, a rate cut by the Federal Reserve in June is a realistic possibility. The Federal Reserve today kept interest rates unchanged as expected and said it needs more time to assess the impact of the war on inflation. Coulton believes that if there are no signs of persistent stubborn inflation, a weakening labor market will reignite concerns about rising unemployment risks, thereby driving a rate cut in June.
21:17
Economists: The market may misjudge the prospect of Federal Reserve interest rate cuts
ChainCatcher news, according to Golden Ten Data, Michael Pearce, Chief US Economist at Oxford Economics, stated that the market is gradually ruling out the possibility of a rate cut in the short term, but this may be a mistaken judgment. He pointed out that although economic growth is stronger, it has not significantly tightened labor market conditions, which explains why most officials still believe there is a path to rate cuts this year. Pearce also said that the market views the impact of this situation on long-term inflation as leaning more toward mild disinflation rather than exacerbating inflation.
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