U.S.
stocks rose for the first time in three days and Treasuries advanced on
speculation the Federal Reserve won’t rush to raise rates amid
uncertainty over Greece’s future in the euro. European equities
rebounded from a four-month low.
The
Standard & Poor’s 500 Index climbed 0.6 percent at 4 p.m. in New
York, rising above its average price for the past 100 days. The Stoxx
Europe 600 Index gained 0.6 percent after reversing a 1.1 percent loss.
The euro weakened 0.5 percent to $1.1232. The yield on 10-year Treasury
notes fell four basis points to 2.31 percent, while German bund rates
slipped to 0.80 percent. Gold settled 0.4 percent lower.
The
Federal Reserve started a two-day policy meeting, with investors
speculating interest rates will remain unchanged and fed fund futures
assigning a reduced probability for an increase in September. While
Greece ratcheted up rhetoric against its creditors, German Chancellor
Angela Merkel struck a more conciliatory tone, saying she was counting
on a June 18 meeting of euro-area finance ministers to end the standoff.
Source: Bloomberg
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