Wall Street jumped higher and Treasuries rallied after Jay Powell said US monetary policy was not on a “preset” path.
In the wake of what was viewed as dovish remarks by the Federal Reserve chair the S&P 500 was up 1.5 per cent, gaining almost a full percentage point. Meanwhile, the Dow Jones Industrial Average rose 1.8 per cent while the Nasdaq Composite was up 1.6 per cent.
Global stock markets stayed positive as investors measured the political rhetoric in the run-up to the G20 summit.
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