During an interview with Fox Business on Friday, United States Commerce Secretary Wilbur Ross argued that the rate cut announced by the Federal Reserve earlier this week will be good for the housing sector.
These comments had no impact on the market sentiment as investors remain focused on the October Nonfarm Payrolls (NFP) report and Manufacturing Purchasing Managers’ Index (PMI) data. As of writing, the 10-year US Treasury bond yield was down 0.41% on the day and the S&P 500 Futures was up 0.2%.
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