Oil prices surge to $102.88 a barrel, the highest since July 2022, as global growth threatens. The Federal Reserve is closely watching oil prices before making interest rate changes.
Fed Chair Powell indicates that an energy supply shock may impact inflation and future rates. Markets expect a “hold” in the next few meetings due to this uncertainty. The WSJ Dollar Index rises slightly, while the 10-year Treasury yield falls for the day but increases sharply for the month.
Note: I’ve simplified the text by removing unnecessary words and phrases, and also reduced the article length by focusing on key points.
Source: https://www.wsj.com/finance/jgb-yield-curve-steepens-amid-rising-inflation-fears-e8feab4b