09 Oct 2024

The dollar is heading toward an eighth day of gains as fixed-income traders pull back on monetary easing expectations and brace for hawkish undercurrents in this afternoon’s Federal Reserve meeting minutes. Ten-year Treasury yields are holding above the 4-percent threshold, North American equity futures are softening on the prospect of renewed antitrust action against Google’s parent company, and most major currencies are stuck in a defensive posture against the almighty greenback. In theory, minutes taken during last month’s Fed meeting should be stale on arrival, but could move markets nonetheless. Policymakers ultimately opted for an outsized half-percentage-point rate cut in...