Global stock markets edged higher today as investors prepare for another round of monetary policy decisions. This week the Federal Reserve, Bank of Japan and Bank of England all hold policy meetings. The general consensus is for few major changes, but it will be an interesting week nonetheless.
Here is the U.S., stock prices were little changed ahead of the FOMC meeting which begins tomorrow and wraps up on Wednesday. Fed funds futures currently suggest a 0% chance of the Fed hiking rates at this meeting.
In other news, oil prices declined as more doubts emerged about the ability of oil producing nations to come to a production agreement. Specifically, Iran reiterated over the weekend that it would not abide by the terms of a production freeze.
Gold took a breather, declining by about half a percent today, while silver traded roughly flat. The dollar strengthened slightly as did bond prices, taking the yield on the 10-year ... Log in or subscribe to continue reading.