Global markets have been feeling the heat as U.S. bond yields surged and a strengthened dollar hit a six-month high following the Federal Reserve's hawkish tone last week. The Federal Reserve indicated that rates would be higher for longer, while its counterparts in Britain, Switzerland and Japan were surprisingly dovish. The euro zone central bank also struck a relatively dovish tone.
FILE PHOTO: An eagle tops the U.S. Federal Reserve building's facade in WashingtonInvestors head into the final week of the quarter still digesting last week's surprising and at times contradictory central bank decisions while preparing for more inflation data from the U.S. and Europe.
The Federal Reserve indicated that rates would be higher for longer, while its counterparts in Britain, Switzerland and Japan were surprisingly dovish. The euro zone central bank also struck a relatively dovish tone. But markets will have plenty of material to pore over this week as they try to glean future Fed moves. U.S. central bank officials will be out in force, starting with Minneapolis Fed President Neel Kashkari on Monday, and key inflation data are due on Friday.
Preliminary September consumer price data for the bloc due at the end of this week is also still sure to be on investors' watchlist.
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