U.S. Stock Futures Are Higher As While Investors Wait For Tomorrow's Federal Reserve Announcement
U.S. stock futures are higher: Investors are waiting for tomorrow’s Federal Reserve announcement for further insights into interest rate policy and the Fed’s details to curtail inflationary pressures within the economy. The consensus is for a 50-bps increase. The 10y treasury briefly inched up to 3% and currently trading at 2.96%. Additionally, 10y German government bonds eked above 1% for the first time since 2015 but drifted lower. Equity market traded down most of yesterday but managed to close higher. Russia avoided default by making dollar payment on its bonds. European markets are trading higher and Asian markets closed mixed. High yield and investment grade spreads increased over the last two weeks and the new issue market is fairly active but bankers remain cautious going into the Fed announcement.