Fed Reiterates Commitment to Economic Expansion

Benchmark U.S. 10-year Treasury yields have come in after the Federal Reserve Bank of New York’s president said the central bank would “act as appropriate” to extend the economic expansion. In the meantime, investors weighed corporate earnings and the outlook for global trade. On the earnings front, companies are struggling to pass on higher wages and tariff-related costs to customers and the start of earnings season hasn’t improved sentiment. And on the trade front, slow progress in resolving the trade disputes between the U.S. and China is raising doubt as to whether the two powerhouses will actually return to the negotiating table. The 10-year Treasury yield currently sits at 2.03, down 10 basis points for the week.