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Wall Street Gains Amid Falling Bond Yields
U.S. stock indices rose significantly, with the Dow Jones increasing by 650 points (1.2%), the S&P 500 climbing by 1%, and the Nasdaq advancing by 1.3%. This came amid a decline in 10-year Treasury bond yields to around 4.75%, following statements from Federal Reserve Governor Christopher Waller, who indicated that the bank is inclined to keep interest rates steady given no surprises in upcoming inflation data. This comments boosted investor optimism, as expectations for rate hikes decreased to 54.6% from 63.2% over the past two weeks.
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