SVET Reports
Wednesday's Markets Update:
On Wednesday, stocks hit new records as investors react to Fed minutes and inflation data. Tech giants lead market higher, offsetting concerns over Alphabet's potential divestiture. Dollar index increased to 8-day high as traders predict smaller rate cut. BTC and ETH dropped briefly but returned to $63K and $2.4K.
Details
Mortgage rates rise to 6.36%, highest since August, as Treasury yields increase, reflecting investor belief that the Fed won't lower interest rates as swiftly. Jumbo loan rates climb to 6.64% and FHA-backed mortgage rates rise to 6.22%. 1Y trend: "Down" (MBA)
World Markets
The Reserve Bank of India (RBI) kept its benchmark policy repo rate at 6.5% for the tenth consecutive meeting in October 2024, aligning with market expectations but tweaked its policy stance to neutral, opening the door for rate cuts amid early signs of a growth slowdown in the economy. 1Y trend: "Side" (RBI)
Currencies
Dollar index surges to 8-session high as traders predict smaller 25bps Fed rate cut. Policymakers divided on rate cut size, reinforcing Fed's view on economic outlook. Traders await CPI and PPI data. 1Y trend: "Side"