GLOBAL MARKETS-US shares advance, Treasury yields dip as Powell gives rate cut assurances

Wall Street followed world shares higher on Wednesday and the benchmark U.S. Treasury yield dipped to a one-month low after Federal Reserve Chair Jerome Powell reassured investors that while inflation is not quite tamed rate cuts can be expected this year. Powell told the House of Representatives Financial Services Committee that "if the economy evolves broadly as expected," the central bank can be expected to cut its policy rate this year. He also said the Fed was on a "good path" toward achieving a soft landing by bringing inflation under control while avoiding economic contraction.