Dollar Drops, Treasuries Rise on Inflation View: Markets Wrap
- Fed holds rates steady, see balance sheet unwind ‘soon’
- S&P 500 ends session little changed, erasing earlier gains
Algebris' Gallo Sees U.S. Dollar, Treasury as Fear Gauge
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Treasuries rose, the dollar fell and U.S. stocks ended little changed after the Federal Reserve signaled that inflation remains persistently below its target even as the economy picks up steam. Oil surged to an eight-week high.