After a start to the week dominated by Brexit and the US-China trade talks today has seen the focus shift. Today it was Fed Chair Jay Powell that sent markets moving as he warned about an overestimation of asset prices and warned of a correction. With the Fed expected to raise interest rates in the next few weeks will the comments see a change in opinion or worry the historically nervous central bank about further stock price downside.
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Two-year yields have covered their prior six-month range in the last week alone – and whether or not this move is sustainable matters a lot