The bond market takes interest rate hike in stride

Stocks closed little changed on Wednesday after the Federal Reserve raised its benchmark interest rate as investors had expected.

The Fed also raised its benchmark overnight rates by a quarter point to 1.00-1.25 percent as expected. It also announced it would begin cutting its holdings of bonds and other securities this year.

Federal Reserve policymakers lowered their forecasts for inflation and unemployment, and continued to predict they would raise rates once more this year. The Fed has now raised rates four times as part of a normalization of monetary policy that began in December 2015. The dollar index was last down 0.06 per cent, with the euro unchanged at US$1.1214. The Fed also announced plans to start gradually paring its bond holdings later this year, which could cause long-term rates to rise.

Germany's DAX index is up 0.4 percent and Britain's FTSE 100 0.1 percent.

The economy grew at a rate of 1.2 percent in the first quarter of this year, about half as fast as it did in the final three months of 2016. Annual inflation is running at 1.7 percent. It has made session high at 1.3270 and lows at 1.3164 levels.

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Crude oil prices fell sharply following an unexpectedly large buildup in gasoline stocks. US crude oil futures settled $1.73 lower at $44.73 a barrel.

Against its Japanese counterpart, the dollar shrugged off earlier losses and was flat at 109.55 yen, above Wednesday's eight-week low of 108.81 yen. The currency's weakest level of the session was C$1.3270, while it touched its strongest since February 28 at C$1.3165. The majority of Fed officials estimated in March that they would raise rates two more times this year.

The U.S. central bank's rate-setting committee said the economy had continued to strengthen, job gains remained solid and indicated it viewed a recent softness in inflation as largely transitory.

Fed officials now expect the US unemployment rate to end the year at 4.3 percent, down from the 4.5 percent they predicted in March.

The dollar nursed losses on Thursday as weak USA inflation data left investors wondering if the Federal Reserve would follow up its latest rate hike with another later this year.

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A higher volatility means that a security's value can potentially be spread out over a larger range of values. This table compares Hecla Mining Company and Coeur Mining's gross revenue , earnings per share and valuation.

Earlier on Wednesday, the Labor Department reported consumer prices unexpectedly fell in May, the second drop in three months.

Benchmark 10-year U.S. Treasury notes were up 20/32 in price to yield 2.1377 percent, from 2.207 percent late on Tuesday. The yield on the 10-year Treasury note was 2.12 percent, the same as shortly before the statement came out.

They increased their projections for economic growth this year to 2.2 percent from the 2.1 percent they forecast in March.

They see Fed policymakers raising the bank's key overnight borrowing rate one more time by the end of 2017 and three times in 2018 despite growing concerns that inflation would fall short of their 2.0 percent goal in the foreseeable future, according to the poll.

Spot gold added 0.2 percent to $1,267.44 an ounce. Unemployment dipped to 4.3 percent in May, a 16-year low.

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I'm looking for something, and I don't know what it is. "When I know I haven't done something wrong, you get frustrated". Her warning of "Dom, I believe in no sex before marriage, FYI" suggests not, but you'll have to tune in to find out.

After rising for three consecutive days, U.S. West Texas Intermediate crude futures fell $1.73, or 3.7 percent, to settle at $44.73 per barrel, its lowest close since November 14.

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