STOCKS: The benchmark BSE Sensex rose 303.73 points, or 0.48%, to 63,403.38, while the broader NSE index gained 110.25 points, or 0.59%, to 18,868.6, tracking the sharp gains in global equities after Federal Reserve Chair Jerome Powell hinted at slowing the pace of interest rate hikes "as soon as December."
Wall Street equities closed sharply higher on Wednesday while U.S. Treasury yields declined and the dollar sank after Federal Reserve Chair Jerome Powell said the central bank could slow the pace of interest rate hikes "as soon as December," even as he cautioned that inflation was still too high.
A look at the day ahead in Asian markets from Jamie McGeever. The IMF, the U.S. Treasury Secretary and the world's biggest bond fund all chipped in with their views on China on Wednesday, although what investors really want to hear is word from Beijing. The economic outlook is deteriorating. This is likely to prompt further fiscal and monetary policy easing from the authorities.
U.S. Treasury yields
retreated on Wednesday after trading higher for most of the
session after Federal Reserve Chair Jerome Powell struck a more
dovish tone than the market expected, saying the U.S.
* Canadian dollar strengthens 1% against the greenback. * Trades in a range of 1.3437 to 1.3593. * Price of U.S. oil settles 3% higher. * Canadian bond yields ease across much of curve. By Fergal Smith.
U.S. Treasury yields
retreated across the board on Wednesday after trading higher for
most of the session after Federal Reserve Chair Jerome Powell
struck a more dovish tone than the market expected, ...
* Graphic: Global asset performance http://tmsnrt.rs/2yaDPgn. * Graphic: World FX rates http://tmsnrt.rs/2egbfVh. By Sinéad Carew and Dhara Ranasinghe.
* CANADA AUCTION OF C$3.5 BILLION 2025 BOND YIELDS AVERAGE 3.974% * CANADA 3.75% 2025 BOND AUCTION YIELDS LOW 3.970%, HIGH 3.977% Source text for Eikon: https://www.bankofcanada.ca/markets/government-securities-auctions/calls-for-tenders-and-results/nominal-bonds/
* Graphic: Global asset performance http://tmsnrt.rs/2yaDPgn. * Graphic: World FX rates http://tmsnrt.rs/2egbfVh. By Sinéad Carew and Dhara Ranasinghe. After rallies in overseas markets led by hopes for a China reopening, Wall Street equities were going in the opposite direction on Wednesday as investors were cautious ahead of an appearance by U.S. Federal Reserve chief Jerome Powell.
* Canadian dollar strengthens 0.6% against the greenback. * Trades in a range of 1.3497 to 1.3593. * Price of U.S. oil rises 3.8% * Canadian bond yields rise across curve. The Canadian dollar strengthened against its U.S. counterpart on Wednesday, clawing back nearly all of its previous day's decline, as hopes that China would soon reopen its economy bolstered commodity prices.
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