Bonds & Stocks
Just hours ahead of results from the world’s most-valuable chipmaker, the S&P 500 eked out gains. Nvidia, which has surged more than 40% from its April low, edged up on Wednesday.
Economy
Federal Reserve Bank of New York President John Williams said pandemic-era price shocks changed American consumers’ inflation perceptions, and policymakers can’t take for granted that people’s estimates of future price increases will remain anchored.
World
Japanese sovereign bonds fell after an auction of 40-year debt met the weakest demand since July, adding pressure on the government to reduce issuance of such securities. The 40-year yield rose 5 basis points following the sale, to 3.335%.