A look at the day ahead in U.S. and global markets from Mike Dolan.
If the tight U.S. labor market is finally unwinding, markets suspect the Federal Reserve's job may well done after all - but at the cost of a looming recession.
More decisively, the two-year Treasury yield plunged more than 20 basis points intraday to hover just above 3.8% on Wednesday. The dollar swooned to lowest in more than two months.Cleveland Fed chief Loretta Mester Even getting it positive would have to assume further significant disinflation while the Fed at least holds rates high for months - all of which is slightly at odds with market pricing.
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