Tuesday, May 8, 2007

GLOBAL MARKETS-Stocks snap 5-day rally, dollar dips vs yen

(Reuters) - NEW YORK, May 8 - U.S. stocks fell on Tuesday as investors skimmed profits off a five-session rally, while the dollar dipped against the yen on perceptions the Federal Reserve could cut interest rates later this year.

Government bonds rose briefly on speculation about how the Fed would describe subsiding inflation and slowing economic growth in the statement accompanying its decision on interest rates on Wednesday, when it is expected to leave rates unchanged.


Read more at Reuters.com Bonds News

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