U.S. stocks bounce on economic optimism; dollar pauses rally – Reuters

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U.S. stocks bounce on economic optimism; dollar pauses rally – Reuters

U.S. stocks rise on general economic optimismOil drops from Monday’s multi-year highsDollar dips from Tuesday’s one-year highTwo-year Treasury yields zoom higher, yield curve flattens

NEW YORK, Oct 13 (Reuters) – Wall Street rose on Wednesday in choppy trade as investors saw an imminent end to ultra-loose U.S. monetary policy as a vote of confidence in the economy, while two-year Treasury yields hit 18-month highs on bets that policy tightening is in the offing.

Indeed, the Federal Reserve signalled on Wednesday it could start reducing its crisis-era support for the U.S. economy – which is set to grow this year at its fastest pace in decades – by the middle of next month, with a growing number of policymakers worried that high inflation could persist longer than previously thought. read more

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