Published: March 15, 2023 at 5:00 PM ET
Producers of metals and other commodities fell on fears that the turmoil in the banking sector could plunge the US economy into recession.
More and more investors are assuming that the Federal Reserve’s rate-hiking cycle is over. Interest rate futures investors on Wednesday saw a 60% chance the Fed will not hike rates at its March 21-22 meeting, up from 30% on Tuesday, according to data compiled by CME Group.
Gold…
Producers of metals and other commodities fell on fears that the turmoil in the banking sector could plunge the US economy into recession.
More and more investors are assuming that the Federal Reserve’s rate-hiking cycle is over. Interest rate futures investors on Wednesday saw a 60% chance the Fed will not hike rates at its March 21-22 meeting, up from 30% on Tuesday, according to data compiled by CME Group.
Gold prices surged to a fresh six-week high as investors looked for safe havens. Meanwhile, economic activity in China rebounded in January and February as the country weathered tight Covid-19 controls for nearly three years. The data suggests China’s expected recovery is broadly on track after posting one of the weakest growth years in decades in 2022.
Write to Amy Pessetto at [email protected]
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