Investor pessimism intensifies as more #Fed rate hikes are expected

Global stock markets rose on Tuesday while 10-year US Treasury yields retreated from the 3% level as investors remained cautious, expecting the Federal Reserve to hike the interest rates. Also, the announcement of the beginning of the balance sheet reduction with more than $9 trillion in corporate and treasury bonds was touted. The Fed will take steps to fight inflation, as data showed. In March, U.S. job vacancies hit a record high as labor shortages persisted, suggesting employers may need to raise wages.