DAX Gains On Hopes For Fed Pause
(RTTNews) - German stocks rebounded on Friday as recent U.S. inflation data added to confidence that the Federal Reserve will pause interest-rate increases in the upcoming month.
The dollar headed for its biggest weekly gain since February after U.S. Treasury Secretary Janet Yellen warned that a default on the U.S. debt would be catastrophic and was "unthinkable".
U.S. Treasury yields were little changed amid the debt ceiling standoff. The benchmark DAX was up 76 points, or half a percent, at 15,911 after losing 0.4 percent the previous day.
Insurer Allianz was little changed despite reporting a sharp rise in first-quarter net profit and confirming 2023 guidance.
Turbine manufacturer Nordex Group fell about 1 percent after posting a wider first-quarter loss on the back of higher costs.







