New York (dpa-AFX)-The courses of US state bonds rose on Friday after a speech by US Federal Reserve chief Jerome Powell. The prospect of key interest rates supported the courses. The edit of the appointment for ten-year-old papers (T-not-future) increased by 0.56 percent to 112.17 points. The yield of the ten -year bond fell to 4.25 percent.
Powell opened the door for a key interest rate. At a conference in Jackson, he said that the changing risks are adapted to the Monetary policy be necessary. He also referred to the recent weak labor market data.
“Obviously Powell can use one Interest rate At the next meeting in September, ”commented Christoph Balz, economist at Commerzbank. However, he wanted to ‘carefully’ proceed, which, according to Balz, speaks for an interest rate reduction by 0.25 percentage points. In December the Commerzbank then expected another step.
According to the economist, an interest rate reduction on September 17 is certainly not. Economist Elmar Völker from the LBBW sees the Fed in a dilemma: “On the one hand, the signs that the customs policy of the US government will drive inflation upwards over the course of the year. On the other hand, the worry lines will be lower for July with a view to employment development after the weak US working market report.”/JSL/He