Eric Wallerstein

Wall Street is clinging to hopes for interest-rate cuts despite inflation fears. Investors are more convinced than ever that interest rates are coming down later this year.

投資家はFRBが年内に利下げするとの見方をこれまで以上に強めている。もっとも、こうしたことに関する投資家の実績は芳しいものではない。

The broad-based S&P 500 gained 1%, while the Dow Jones Industrial Average added 0.4%, or about 152 points. Sectors that are especially sensitive to higher interest rates led the charge. The tech-heavy Nasdaq Composite gained 1.3%.

米国では国債利回りが高水準に上昇した結果として、連邦政府の利払い費が膨らみ、国の予算を圧迫している。

米経済に関する重要指標が発表される数時間前から、国債トレーダーは結果予測に基づく取引を活発化させている。従来は発表前の30分間程度に集中する傾向があった。

A broader group of companies has fueled the recent climb to records.

NEWSPLUS Stocks rose modestly Tuesday, with the S&P 500 rebounding toward its recent record highs. Chipmaker Micron is advancing toward another record. Krispy Kreme shares and cocoa contracts are on sugar highs.

NEWSPLUS Stocks moved lower Tuesday, with the S&P 500 creeping further from its recent record highs. Chipmaker Micron is advancing toward another record. Krispy Kreme shares and cocoa contracts are on sugar highs.

Traders started the year predicting as many as seven rate cuts. Now, many are betting on one or two—or none.

Record issuance raises worries that debt sales will exacerbate volatility. A series of weak auctions for U.S.