Fed minutes are due at 2 p.m. Eastern
U.S. stock indexes were trading mixed on Wednesday, giving back some of their earlier gains, as traders digested data from the September producer-price index, which showed a measure of wholesale prices rose more than expected.
What’s driving markets U.S. stocks were trading mixed on Wednesday late morning, with the S&P 500 wavering between gains and losses, while the Dow industrials was edging lower after opening in the green. Gregory Daco, chief economist at EY, said he is not concerned about the PPI inflation trajectory despite “the energy bump in the road.”
The decline in long-term implied borrowing costs comes after recent comments from Federal Reserve officials indicated the central bank may have finished raising interest rates for this cycle. The neutral rate of interest, or “r-star”, is the the real short-term interest rate expected to prevail when an economy is at full strength and inflation is stable.
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