Dow Futures Win with Fed Meeting in Sight; Musk boosts Bitcoin

Monday market minute

  • Global stocks hit new all-time highs, while bond markets remain content with faster inflation signals as investors expect this week’s Fed meeting to take the direction of the summer.
  • Bond futures suggest the largest long positions in nearly four years before Wednesday’s statement, indicating a lack of concern over short-term tuning talks from Fed Chairman Powell and his colleagues at the FOMC.
  • Yields on the 10-year benchmark notes remain at 1.46% amid the biggest weekly decline in Treasuries in more than a year, while the dollar index falls to 90.481.
  • Bitcoin approaches the $ 40,000 mark as Tesla CEO Elon Musk says it could resume accepting the cryptocurrency as payment if miners improve their clean energy mix.
  • CDC data shows that 143.9 million Americans have been fully vaccinated against the coronavirus, with about 309.3 million doses administered as of Sunday.
  • US equity futures suggest a modestly higher open on Wall Street as investors look at the Fed’s rate decision on Wednesday.

US stock futures edged higher on Monday, while Treasury yields held near multi-month lows as investors hit near-record highs ahead of this week’s Federal Reserve meeting that it could set the tone for summer stock performance.

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