Morning Commentary: Metinvest, Minerva take dollar deals on the road; market eyes FOMC meeting

By Rebecca Melvin

New York, March 20 – The Ukraine’s Metinvest BV announced on Tuesday it is taking a dual-tranche offering of dollar notes on the road starting on Wednesday, and Brazil’s Minerva SA is starting roadshow meetings on Wednesday for a planned perpetual offering; but, emerging markets overall were mostly quiet as market players hesitated ahead of the start of Federal Reserve’s two-day meeting of its Federal Open Market Committee, a London-based market source said.

The Tuesday through Wednesday FOMC meeting is expected to result in an increase in the Fed Funds rate by the U.S. central bank for the first time this year. It also marks the first time that the FOMC is meeting with newly appointed Fed chairman Jerome Powell at the helm.

Investors will be watching how Federal Reserve commentary treats key topics such as inflation, the economy and trade policy.

U.S. Treasuries were slightly lower in the morning session. The yield on the 10-year benchmark Treasury note was higher by 0.024% at 2.882%.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.