New York stocks start higher ahead of Fed rate hike

The 10-year Treasury yield falls, the 2-year Treasury yield rises
Purposeful: Share price rises on the same day as 4 interest rate rises this year

photo = REUTERS

New York stock markets opened higher ahead of the announcement of an increase in interest rates by the US Federal Reserve (Fed) scheduled for 2 pm on the 21st (local time).

According to MarketWatch, the S&P 500 rose 0.5% immediately after opening, the Dow Jones Industrial Average rose 0.5% from the previous day, and the Nasdaq Composite rose 0.21%.

According to data from Bespoke, on the day the Fed raised interest rates four times since March this year, the stock price rose unexpectedly.

Meanwhile, the yield on the policy-sensitive two-year government bond rose 8bp from the previous session to 3.972%, but the yield on the 10-year government bond fell 24bp to 3.549%.

By Kim Jung-ah, staff reporter kja@hankyung.com

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