Jamie Chisholm is a markets reporter based in London.
U.S. stock futures edged lower Tuesday as traders adopted a more cautious stance following a six-day winning streak.
Traders were adopting a more cautious tone after last week’s plunge in bond yields — on hopes the Federal was now finished raising interest rates — sparked a 6% jump for the S&P 500 in just six sessions. “Such exaggerated market moves can often be followed by a period of mean reversion, where prices may revert to more recent typical level,” Innes added.
This chimed with comments late Monday from Minneapolis Fed President Neel Kashkari, who said it is too early to declare victory on inflation; a sign perhaps that the Fed is pushing back against some of the bond market’s recent exuberance.
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