August 24, 2016
After investors snapped up Treasury two-year notes at an auction Tuesday, signs of strong demand in today's sale of five-year notes may indicate that markets are yet to be wholly convinced that the Federal Reserve is poised to tighten monetary policy this year.
A measure of global foreign-currency volatility matched its highest level in almost a month as traders speculated that Federal Reserve Chair Janet Yellen's speech in two days may give clues on the path of U.S. interest rates.
Asian stocks outside Japan fell as Hong Kong shares retreated and investors grew cautious before Federal Reserve Chair Janet Yellen's speech this week. Japanese equities gained as exporters rallied.
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