Pavan Sharma

The focus overnight was the much anticipated US Federal Reserve announcement given the recent move in interest rates. Chairman Powell continued to project near-zero interest rates at least through 2023, suggesting consistency with the Fed’s view that it w

US stocks retreated late in the session, with the Tech Nasdaq index shedding more than a 1% gain, as yields on longer-maturity US Treasury bonds ticked up, nipping investor enthusiasm for tech-stocks that are high growth but wary of rising inflation.

Investors are looking at the likely economic recovery from the coronavirus and await cues from the Federal Reserve this week amid caution over rising borrowing costs.

There were several positive vaccine developments over the weekend with Novavax announcing its vaccine is 96% effective .

ECB Head, Lagarde warned that higher bond yields could lead to a “premature tightening of financing conditions”, which she labelled “undesirable”.