Gold at $10,000? Death of the 40-year bull market in bonds? What’s next for the global financial system after Russia’s central bank gets cancelled

Reuters

Stocks dip after Fed bounce, BoE adds a twist

Wall Street was set to trim some of the strong gains made in Asia on Thursday, after China had signalled more support for its spluttering economy and both the Fed and Bank of England pressed on with interest rate hike plans. Traders remained gripped by the war in Ukraine but, but with hopes of possible a peace deal faint but alive, the focus was back on big macro questions such as surging inflation rates, COVID and growth. Wall Street futures were fractionally lower after a more than 2% jump the previous day when the Federal Reserve had raised U.S. interest rates – one of the key drivers of global borrowing costs – for the first time in more than three years.