The findings supported investors' 'no landing' economic forecast and prompted Fed officials to warn of unsettling interest rate markets.
"The worst thing to do is act urgently when urgency is not required," said San Francisco Fed president Mary Daly, one of 19 U.S. central bankers who decide monetary policy.
In September, Fed futures predict the first rate cut this year. On Tuesday, Fed Chair Jerome Powell, European Central Bank chief Christine Lagarde, and Bank of England governor Andrew Bailey will speak at the IMF's Spring meeting in Washington.
Later Tuesday, the IMF issues its updated World Economic Outlook, and investors will closely watch its U.S. growth estimates for this year and next.
The result is a restive U.S. Treasury market, where 10-year rates hit 4.66% on Monday for the first time since November and continued higher Tuesday. Treasury volatility (.MOVE), opens new tab, were greatest since Jan. 5.
Stock market volatility is rising again as first-quarter U.S. business earnings season begins. The VIX (.VIX), opens new tab 'fear index' touched its year-high of 19.56 on Tuesday, matching the index's 35-year average.
Goldman Sachs' beat on Monday buoyed its shares and contrasted with the large banks' wobbly start to the season, but the aggregate yearly profit growth projection for S&P500 businesses has slipped to 2.7% for Q1 from 5% at the start of the month and more than 7% at the start of the year.
With rate worries, earnings, and geopolitics, the S&P500 fell more than 1% again on Monday to its lowest level in almost two months. Futures were firmer before the bell. The Russell 2000 of small cap stocks (.RUT) lost 1.4% and is now negative for the year.
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