"Powell and Yellen's Mixed Messages Spook Markets"
TL;DR
The Asian open on Thursday may hinge on which of the conflicting narratives thrown up by late U.S. trading on Wednesday investors choose to run with: the Fed's 'dovish hike', or Treasury Secretary Janet Yellen's remarks on the banking system. Implied U.S. rates and Treasury bond yields fell sharply after the Fed raised rates by a quarter point and Chair Jerome Powell said policymakers had considered a pause in light of the recent turmoil in the domestic banking system.
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