Financial Times/Katie Martin and George Steer/3-13-2023
“Government bond prices soared on Monday, with two-year US Treasury yields recording their biggest one-day drop since 1987, as fund managers ramped up bets that the US Federal Reserve would leave interest rates unchanged at its next scheduled monetary policy meeting this month to steady the global financial system. As recently as last week, markets were braced for another half-percentage point rise.”
USAGOLD note: Sunday’s rescue package created a 180 degree reversal in rate prospects, inflation expectations, and market outlook. The suddeness of the change reinforces our long-standing advice to diversify with gold and silver for asset preservation purposes and stay diversified.
