Labour Day Halts Most Markets Except for Canada and the U.S.
Despite expectations of a rate hike this week, the US stock market continued to surge. The Fed is expected to raise the Fed Funds Rate by 25 basis points, but US bond market pricing indicates that the Fed may pause until November. The Dollar rose after inflation grew at a slower pace in March, and gold ended a notch higher for April. The Yen fell across the board after the Bank of Japan maintained ultra-low interest rates, while WTI closed Friday’s session up 2.7%.