BoC Hold – US Market Wrap
– US market indexes ended the day below session highs on Wednesday as investors braced themselves for yet another round of significant quarterly reports as earnings-related excitement spurred by Netflix subsided.
– The tech-heavy Nasdaq 100 surged 0.5%, while the S&P 500 saw no change at market close. US Treasury yields increased, with the 30-year rate reaching its highest level of the year.
– The Bank of Canada signalled earlier that it is done hiking and kept its key interest rate at 5%. This week’s agenda also includes the European Central Bank’s policy meeting on Thursday. Earlier, euro-area bond yields fell as data revealed that business activity shrank in January for the eighth consecutive month.