Yellen Says It Is Possible That Longer Term Yields Will Come Down, No One Knows For Sure; Says Fiscal Sustainability Is Critical, Biden Is Committed To Putting Forth Fiscal Plan That Shows Sustainability
Portfolio Pulse from Benzinga Newsdesk
US Treasury Secretary Janet Yellen stated that it is possible for longer-term yields to decrease, but there is no certainty. She emphasized the importance of fiscal sustainability and mentioned that President Biden is committed to presenting a sustainable fiscal plan.
October 26, 2023 | 5:42 pm
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NEUTRAL IMPACT
Yellen's comments on the potential decrease in longer-term yields and the emphasis on fiscal sustainability could impact the SPY ETF, which tracks the S&P 500 index.
Yellen's comments could potentially impact the bond market, which in turn could affect the stock market and the SPY ETF. However, the exact impact is uncertain as it depends on various factors including the actual changes in fiscal policy and market reactions.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50