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Stock impact report

Credit Risks Take Center Stage as Traders Boost Fed-Cut Bets [BNN Bloomberg (Canada)]

Franklin Resources, Inc. (BEN) 
Last franklin resources, inc. earnings: 4/30 08:30 am Check Earnings Report
Company Research Source: BNN Bloomberg
economy, potentially forcing the Federal Reserve to change tack and cut interest rates. Shorter-dated Treasury rates slumped Wednesday as the US central bank tempered its language around how much additional tightening it might do, even as it implemented another quarter-point hike. The three-year Treasury yield plunged by more than a quarter point, while swap rates linked to policy meeting dates now show the Fed benchmark ending 2023 around three quarters of a point below its new, post-decision level even as Fed Chair Jerome Powell insisted that rate cuts are not his “base case.” The focus on banking stress was clearly evident from its prominent placement near the top of the monetary authority's decision statement, which said that “recent developments are likely to result in tighter credit conditions for households and businesses and to weigh on economic activity.” Powell also said during his press conference that the tightening of credit can substitute for policy hikes. The impa Show less Read more
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