'We're seeing a bit of a clash between, I think, what expectations are and how things are actually going,' said Shelby McFaddin, investment analyst at Motley Fool Wealth Management. The central bank also indicated fewer rate cuts next year, essentially saying it would need to keep rates higher for longer because stubborn inflation.įed Chair Jerome Powell commented after the decision that a soft landing for the economy was still possible, but not his baseline scenario. The moves come a day after the Federal Reserve announced it would leave interest rates unchanged, but forecasted another rate hike before the end of the year. Market participants are concerned that a shutdown would hurt fourth-quarter GDP. Losses intensified following news that House Republican leaders sent the chamber into recess on Thursday, bolstering fears that federal lawmakers won't pass a bill to avert a government shutdown. He added that yields are 'certainly weighing on risk appetite at this point.'

'That's kind of a warning sign for markets right now,' said Adam Turnquist, chief technical strategist at LPL Financial, of recent yield moves. The 2-year yield touched a high of 5.202%, reaching levels seen not since 2006 in the session. It was the lowest volume of new unemployment claims since January. 16, much lower than the 225,000 claims expected by economists polled by Dow Jones. Weekly jobless claims decreased by 20,000 to 201,000 for the week ending Sept. Earlier in the day, the rate reached its highest level since 2007, with the latest catalyst being weekly jobless claims data showing a still strong labor market that could encourage the Fed to stay in hiking mode. 10-year Treasury yield hit a high of 4.494%. Personal Loans for 670 Credit Score or Lower

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