Stocks Rebound From Six-Week Low as Commodities Climb, Yen Falls
- Dollar rallied this week as odds of a Fed rate-hike jumped
- Gold on longest run of weekly losses this year; soybeans rise
Why RBC's Golub Thinks We Are in a Low-Yield Environment
Financial markets stabilized after being buffeted this week by speculation the Federal Reserve is moving closer to raising interest rates. U.S. stocks erased a weekly decline, as commodity prices capped a gain, while the yen weakened on reduced demand for haven assets.
Global shares rebounded from a six-week low, with the S&P 500 Index slightly higher for the year a day from the anniversary of its last record. Treasuries fell, with two-year notes posting their biggest weekly plunge since November. Crude slipped from a seven-month high and sugar traded in New York surged to a 20-month high. The yen dropped against all but two of its 16 major counterparts. Nigeria, Africa’s largest economy, shrank for the first time since 2004.