Key Points
Recent economic data has raised expectations that the Fed will keep interest rates higher for longer, with some investors betting another hike in June is not off the table...
European shares rose on Thursday and Wall Street was set to open higher, as traders bet that politicians in the United States would reach a deal to avoid a debt default..
Wall Street closed sharply higher on Wednesday and the positive market sentiment continued during Asian trading, with Japans Nikkei hitting a new 20-month high, after President Joe Biden and top U.S. congressional Republican Kevin McCarthy expressed their determination to reach a deal soon to raise the governments $31.4 trillion debt ceiling...
Kiran Ganesh, a multi-asset strategist at UBS, said markets were taking confidence from Bidens decision to cut short a trip to Asia in order to return to Washington on Sunday, and McCarthy saying that a deal this week was doable..
Analysts have attributed recent dollar strength to its appeal as a safe haven, as well as concerns that persistent inflation may prompt the U.S. Federal Reserve to further raise interest rates...
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