(Reuters) – U.S. stock index futures edged higher on Wednesday, as benchmark bond yields tumbled on fears of a global recession and expectations of interest rate cuts by central banks.
Bond markets around the world slid as trade tensions continued to simmer despite the recent truce between the United States and China, with the nomination of IMF chief Christine Lagarde to head the European Central Bank adding to bets of monetary easing.
US - Treasury - Yields - November - UK
The benchmark U.S. 10-year Treasury yields slipped to their lowest since November 2016, while the 10-year UK gilts yield fell below the Bank of England’s main policy rate for the first time in a decade.
Hopes that the Federal Reserve would cut rates to preserve a decade-long U.S. expansion helped the S&P 500 and the Dow Jones indexes post their best June performance in decades, with traders now betting for about a 25% chance the central bank would cut borrowing costs by half a percentage point at its July 30-31 policy meeting.
Trading - Volumes - Trading - Hours - Wednesday
Trading volumes are expected to be thin due to shortened trading hours on Wednesday ahead of the July Fourth holiday.
At 7:18 a.m. ET,...
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