European markets muted ahead of Powell's Jackson Hole speech; Treasury yields rise

U.S. stock futures inched fractionally higher after the major Wall Street indexes snapped multi-day winning streaks on Thursday.

Aug 27, 2021 04:08 IST India Infoline News Service

European markets were subdued ahead of U.S. Federal Reserve Chairman Jerome Powell’s remarks at the annual Jackson Hole symposium. The pan-European Stoxx 600 was flat as basic resources rose 0.8% and travel stocks fell 0.6%.

U.S. stock futures inched fractionally higher after the major Wall Street indexes snapped multi-day winning streaks on Thursday.

Meanwhile, U.S. Treasury yields rose slightly, the yield on the benchmark 10-year Treasury note added less than a basis point, advancing to 1.346%. The yield on the 30-year Treasury bond rose less than a basis point to 1.941%.

Now all eyes would be on Powell’s speech tonight, wherein general expectation is that Fed chairman will provide some guideposts for the timing and the pace of the Fed’s plan to scale back monthly asset purchase programme.

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