U.S. Treasury yields are moving higher, with the yield on the 10-year note trading at its highest level since July as investors look ahead to upcoming economic data.
The ten-year yield has been moving upwards in recent sessions, reaching 4.322% today. The two-year yield edged up one basis point to 4.152%.
Yields and prices move in opposite directions. One basis unit equals 0.01%.
The financial data
Several data releases on Tuesday painted a mixed economic picture. While consumer confidence remains strong, a further-than-expected decline in job vacancies signals labor market weakness.
Investors await the ADP private sector hiring data and the all-important October jobs report due out in the coming days.
Also due this week is the latest Personal Consumer Expenditure Price Index, which is the Federal Reserve’s favored gauge of inflation. Investors will be watching the data closely for hints about the monetary policy outlook.
The Fed is silent
However, Fed policymakers will not comment as they are now in a so-called blackout period ahead of their next meeting on November 6-7.
The central bank is set to make its next rate decision after cutting interest rates by 50 basis points at its last meeting in September, kicking off its first easing campaign in four years. Traders last priced in a nearly 95% chance of further rate cuts from the Fed next week, according to CME Group’s FedWatch Tool.
SOURCE: ot.gr
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