2/16/2024 0 Comments 10 year treasury marketwatch![]() ![]() “It all started with the Omicron variant being seen as the reason the Fed wouldn’t be able to raise at all in 2022…At some point there will be a dovish pivot, and this could be closer than the others to it, but be wary that we’ve now been to this well seven times in two years,” Reid added. “his is now the seventh time in the last two years we’ve had a very clear example of markets getting excited about a dovish pivot, and on the previous six those dovish expectations have entirely unwound again,” warned Jim Reid, macroeconomic strategist at Deutsche Bank. In other economic data, industrial production fell 0.6% in October, while builder confidence fell for a fourth straight month in November as mortgage rates reached 8%. Economists polled by The Wall Street Journal expected a negative 7.5 reading in November. Any reading below zero indicates deteriorating conditions. The Philadelphia Fed said Thursday its gauge of regional business activity improved slightly to negative 5.9 in November from negative 9 in the prior month. The Labor Department said the number of Americans who applied for first-time unemployment benefits last week jumped to a three-month high of 231,000, suggesting some softening around the edges of a strong U.S. The chances of a 25 basis point rate cut at the May meeting were pegged near 33%, up from 30% a month ago. See: Stock and bond investors are convinced the Fed is finished with rate hikes. Traders were pricing in at least a 97% probability that the Fed will leave interest rates unchanged at a range of 5.25% to 5.50% after its next meeting on December 13th, and the subsequent meeting on Jan. Lisa Cook on Thursday said she thinks a “soft landing” for the economy was possible, but not guaranteed, in a speech at the San Francisco regional bank.Ĭleveland Fed President Loretta Mester said that easing monetary policy was not “ part of the conversation right now,” in a CNBC interview on Thursday. “I think maybe there is a sense that an inventory glut could happen, although I’m not totally convinced of that,” Will Compernolle, macro strategist at FHN Financial, said in a phone call.Ĭompernolle also sees signs that deteriorating growth sentiment is driving down yields further out on the Treasury market curve.įed Gov. Particularly after chief executive Doug McMillion said he expects to see deflation in the coming months, during the company’s third-quarter earnings results early Thursday. economic activity and on quarterly results from mega retailers, including from Walmart Inc., ![]() View the futures and commodity market news, futures pricing and futures trading. 10-year Treasury yield heads for another 2023 high, at almost 3.86, after U.S. 5- and 7-year rates lead jump in Treasury yields as bond selloff gains momentum MarketWatch. Traders on Thursday focused on further signs of cooling U.S. Treasury Note Jun 2024 futures overview by MarketWatch. Policy-sensitive 2-year Treasury yield hits 4.7, 10-year rate rise to 3.9 MarketWatch. Bond prices and yields move in opposite directions. Investors have piled into bonds in recent weeks amid hopes that easing inflation and a cooling economy will allow the Federal Reserve to start cutting interest rates by the middle of next year. The 10-year yield is down 54 basis points from the October peak and the 30-year is 47 basis points lower, according to Dow Jones Market Data.īenchmark Treasury yields fell sharply Thursday, with the 10-year Treasury yield down more than 50 basis points from its 16-year peak of 5% in October. Yields move in the opposite direction to prices. Along with Tuesday’s sale of $48 billion of 3-year notes, which also went as expected, Wednesday’s sale gave hope that buying interest in long-dated government debt can continue despite an onslaught of supply.Fell 7.4 basis points to 4.84%. Eastern time on Wednesday, produced average demand after factoring in its increased size, according to macro strategist Will Compernolle of FHN Financial in New York. The Treasury’s $40 billion auction of 10-year notes, held at 1 p.m. Eastern time figures from Dow Jones Market Data. Wednesday’s levels are the lowest for the 10- and 30-year rates since Sept. Slipped 4.8 basis points to 4.522% from 4.570% Tuesday afternoon.ĭropped 7.9 basis points to 4.655% from 4.734% late Tuesday. Rose 2.1 basis points to 4.936% from 4.915% on Tuesday. ![]() Long-term Treasury yields finished at their lowest levels in more than a month on Wednesday after a 10-year auction went as expected and reaffirmed buying interest in government debt.
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