That darn 10-yr Treasury yield! Want it to stay below 2.95% for the next week or so (it's at 2.875% now)
Meanwhile, in the fraudCoin fantasy world: Self-proclaimed bitcoin 'creator' sued for $10bn
Stock rally could depend on whether Powell is hands-off on policy for now
- Fed Chair Jerome Powell makes his first major appearance as head of the Federal Reserve before the House Finance Committee.
- What Powell says during the Fed chair's semi-annual economic testimony could help decide whether stocks continue to rally, break out of a band of resistance and head toward new highs.
- Powell is not expected to rock the markets, but traders are watching to see how he handles Congress and whether he can walk the fine line of not sounding too hawkish or too dovish.
- Jerome Powell is set to address Congress on Tuesday, with the recently-appointed Fed chair expected to shed light on the current state of the U.S. economy and monetary policy.
- The U.S. Treasury is set to auction $22 billion in 52-week bills and $60 billion in four-week bills.