Fed’s Patience Calms Bond Market
With few major economic releases or corporate earnings reports, Middle East tensions returned to the spotlight. Reports that Middle East oil exports, excluding Iran, had recovered to prewar levels helped ease pressure on crude prices. Meanwhile, September’s Fed FOMC minutes pointed to another rate hike this year, though officials gave no indication of timing. As a result, yields stabilized, with the 10-year U.S. Treasury yield ending the week lower after six consecutive weekly gains.
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