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Powell Is Key for Traders Keeping One Eye on Impeachment Hearing
Wall Street bond traders will be firmly focused on events in Washington on Wednesday morning in a hunt for clues about the direction of the economy and risk sentiment. But while they may keep one eye on the first public hearings in the House’s presidential impeachment inquiry, what matters most right now for the $16.5 trillion Treasuries market will be unfolding elsewhere on Capitol Hill: Federal Reserve Chairman Jerome Powell’s appearance before Congress’s Joint Economic Committee. After policy makers cut rates last month at the third straight meeting, investors are looking for confirmation that Powell sees ... (full story)