Markets react nervously to Powell’s speech

US equities ended an eight-day winning streak on the back of a weak US Treasury bond sale and a more hawkish than expected speech by Federal Reserve Chairman Jerome Powell. A cyber-attack forced the US unit of a Chinese bank to send the settlement of Treasuries in physical form to the counterparty. Siemens Energy is still negotiating for critical support as it faces a huge loss. Crypto assets rally on hopes of the approval of a spot bitcoin ETF in the US. Tim Gagie, Head of FX & PM Solutions Geneva, notes that FX markets are at the crossroads of many conflicting currents, but that USD weakness is still on the cards.00:00 Introduction by Helen Freer (Investment Writing)00:21 Markets wrap-up by Mike Rauber (Investment Writing)06:13 Currencies and metals by Tim Gagie (Head of FX & PM Solutions Geneva)10:35 Closing remarks by Helen Freer (Investment Writing)Would you like to support this show? Please leave us a review and star rating on Apple Podcasts, Spotify or your favourite podcast player.