Fed's Daly Says With Rise In Bond Yields, The Need To Do Additional Tightening By Fed Is Not There
Portfolio Pulse from Benzinga Newsdesk
Federal Reserve Bank of San Francisco President Mary Daly stated that the recent rise in bond yields has reduced the need for the Federal Reserve to implement additional tightening measures.
October 05, 2023 | 4:20 pm
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NEUTRAL IMPACT
The statement by Fed's Daly may have a stabilizing effect on the SPY ETF, as it suggests that the Federal Reserve may not implement additional tightening measures in the near future.
The SPY ETF, which tracks the S&P 500, is sensitive to changes in the Federal Reserve's monetary policy. If the Federal Reserve does not implement additional tightening measures, this could stabilize the SPY ETF in the short term.
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