By Caroline Valetkevitch
NEW YORK (Reuters) -Global stock indexes mostly eased on Wednesday along with energy shares, while U.S. Treasury yields rose as investors stuck to the view that the Federal Reserve will be able to create a soft landing for the U.S. economy.
China’s yuan gave back earlier gains a day after China’s central bank unveiled its biggest stimulus since the pandemic to pull the economy out of its deflationary funk and back towards the government’s growth target.
In the U.S., Wednesday’s data showing new home sales falling in August had little impact on markets. Data on Tuesday showing U.S. consumer confidence dropped by the most in three years in September added to worries about the labor market.
The U.S. central bank last week began an anticipated series of interest rate cuts with a large half-percentage-point reduction.
Traders are now pricing in 59% odds of a 50-basis point cut at the Fed’s Nov. 7 meeting, up from…
