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The U.S. central bank left interest rates unchanged on Wednesday, in line with market expectations. Broadly speaking, higher rates for longer could be an unwelcome turn of events for stocks and bonds. The S&P 500 lost 0.94% on Wednesday, while the yield on two-year Treasuries, which reflect interest rate expectations, hit 17-year highs. Futures tied to the Fed’s policy rate late Wednesday showed traders were betting the central bank would ease monetary policy by a total of nearly 60 basis points next year, bringing interest rates to about 4.8%. Signs of wobbling growth could bolster the case for the central bank to cut rates far sooner than it had projected.
Persons: Sarah Silbiger, Josh Jamner, Gennadiy Goldberg, Jerome Powell, , David Norris, John Madziyire, , Norris, Davide Barbuscia, David Randall, Herbert Lash, Lewis Krauskopf, Ira Iosebashvili, Stephen Coates Organizations: Eccles Federal Reserve, Washington , D.C, REUTERS, Federal, U.S, Treasury, U.S ., Clearbridge Investments, TD Securities USA, TwentyFour Asset Management, Thomson Locations: Washington ,, U.S
His killing and the subsequent failure of the London Metropolitan Police Service to properly investigate the crime sparked a national outcry. Within days of his killing at a bus stop in southeast London, five White teens were identified as being involved. It took years of campaigning by the Lawrence family — and public support from the likes of Nelson Mandela and the national press — to get the investigation moving. While an initial investigation by then-police watchdog the Independent Police Complaints Commission cleared the police of any wrongdoing, the Rigg family kept fighting. Matthew Brealey/CNNFinding peaceAs the Lawrence family and their supporters mark the 30th anniversary of Stephen’s killing, they are still fighting for his killers to face justice.
Concerns have been heightened by the wild swings in market interest rates since the collapse of Silicon Valley Bank (SIVB.O) last week. Fund managers advise shunning high-yield bonds, despite their attractive yields, because of the risk these bonds could be hit by ratings downgrades, defaults and a squeeze in company earnings. Refinitiv Lipper data showed high-yield bond funds, after seeing an inflow of $7.63 billion in January, faced an outflow of $11.51 billion in February. Reuters GraphicsSo far this month, high-yield bond exchange-traded funds (ETFs) have seen a total outflow of $506 million. However, safer money market funds have attracted $28.76 billion, and government bond funds have seen an inflow of $15.52 billion since February.
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