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There are only two more meetings left for the Fed this year – in October and December – and it’s likely that the Fed might want to see a few more employment reports and monitor the Chinese markets before making the decision.

At her news conference, Yellen stressed that even after the first increase from zero, interest rate policy will be “highly accommodative for quite some time”. The two-year Treasury note, which would be more heavily impacted by higher short-term interest rates, had an...

“For emerging-market central bankers, the Fed has given them some much-needed breathing room”, Jonathan Lewis, a principal at New York-based Samson Capital Advisors LLC, said.