A report by JPMorgan Chase shows that bond yields and stock cyclical bets may bottom this month and will continue to rise for the rest of 2021, but rising interest rates and "bubble behavior" are unlikely to shake the stock market.
U.S. President Biden nominated Powell for re-election as Fed Chairman earlier this week, and another candidate, Brainard, was appointed as Fed Vice Chairman. This news boosted market expectations for the Fed to raise interest rates next year, and by then, the Fed will also end its bond purchase program.
On Tuesday afternoon, the short-term gains of the New Zealand dollar against the US dollar expanded to 30 points. Earlier, the Reserve Bank of New Zealand Assistant Chairman Hawkesby said that the Reserve Bank of New Zealand had considered raising interest rates by 50 basis points.