STOCKS RISE AS YIELDS RETREAT AHEAD OF FED Global stocks moved higher ahead of today’s Fed rate decision, with markets pricing more than a 90% chance of a 25bp hike. The S&P 500 gained 0.26% and Nasdaq 0.60%, while the 10-year Treasury yield retreated to 4.963%. Oil also cooled, with Brent falling 2.4% to $106. Market angle: attention now shifts entirely to Kevin Warsh’s guidance on future hikes.(彭博社)