{"id":20505,"date":"2023-06-09T11:59:58","date_gmt":"2023-06-09T15:59:58","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/treasury-yields-rise-as-investors-eye-approaching-fed-decision\/"},"modified":"2023-06-09T11:59:59","modified_gmt":"2023-06-09T15:59:59","slug":"treasury-yields-rise-as-investors-eye-approaching-fed-decision","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=20505","title":{"rendered":"Treasury yields rise as investors eye approaching Fed decision"},"content":{"rendered":"<div id=\"js-article__body\" itemprop=\"articleBody\" data-sbid=\"WP-MKTW-0002157820\" role=\"document\">\n<p>U.S. bond yields were higher on Friday in quiet trading as investors tried to keep their powder dry ahead of next week\u2019s May inflation data and a Federal Reserve interest-rate decision.<\/p>\n<h2>What\u2019s happening<\/h2>\n<ul class=\"articleList\">\n<li>\n      The yield on the 2-year Treasury<br \/>\n        TMUBMUSD02Y,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.000%\" channel=\"\" class=\"\">4.602%<\/bg-quote><br \/>\n       advanced 7 basis points to 4.594% versus 4.517% at 3 p.m. Eastern Thursday. <\/p>\n<\/li>\n<li>\n      The yield on the 10-year Treasury<br \/>\n        TMUBMUSD10Y,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.000%\" channel=\"\" class=\"\">3.746%<\/bg-quote><br \/>\n       gained 4 basis points to 3.747% compared with 3.714% Thursday. <\/p>\n<\/li>\n<li>\n      The yield on the 30-year Treasury<br \/>\n        TMUBMUSD30Y,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.000%\" channel=\"\" class=\"\">3.887%<\/bg-quote><br \/>\n       added 2 basis points to 3.900% from 3.882% late Thursday.<\/p>\n<\/li>\n<\/ul>\n<h2>What\u2019s driving markets<\/h2>\n<p>With no notable U.S. economic releases due Friday, bond market\u2019s attention is focused on next Tuesday\u2019s May inflation data and Wednesday\u2019s Federal Reserve monetary policy decision.<\/p>\n<div class=\"paywall\">\n<p>Markets are pricing in a 72% probability that the Fed will leave interest rates unchanged at a range of 5.0% to 5.25% after its meeting on June 14, according to the CME FedWatch tool. <\/p>\n<p>The  chances of a 25 basis point hike to 5.25% to 5.50% in July is priced at 52%.<\/p>\n<p>Investors were more relaxed about the prospects for Fed policy and its impact on bond markets given the mixed economic data of late. <\/p>\n<p>The ICE Bank of America MOVE index, which measures expected volatility in Treasuries, is hovering around 115 on Friday morning, near its lowest level since February and way down from the 200 mark hit in March in the wake of regional bank failures. <\/p>\n<div data-layout=\"inline\n                \" data-layout-mobile=\"\" class=\"\n          media-object\n          type-InsetMediaIllustration\n            inline\n  article__inset\n          article__inset--type-InsetMediaIllustration\n            article__inset--inline\n  \"><\/p>\n<figure class=\"\n        media-object-image\n        enlarge-image\n        img-inline\n        article__inset__image\n      \" itemscope=\"\" itemtype=\"http:\/\/schema.org\/ImageObject\"><\/p>\n<\/figure><\/div>\n<h2>What are analysts saying<\/h2>\n<p>Not everyone thinks the Fed will refrain from raising interest rates next week. <\/p>\n<p>\u201cNext week\u2019s decision is likely to come down to the wire, but we maintain our long-held view that the Fed will tighten rates by a final 25 basis points in June to a range of 5.25%-5.50%. If the Fed decides to \u2018skip\u2019 the June meeting, we expect the decision to be accompanied by communication that leans hawkish, signaling a likely hike for July,\u201d said strategists at TD Securities led by Oscar Munoz, chief U.S. macro strategist. <\/p>\n<p>\u201cThe rates market reaction will hinge on whether the Fed hikes rates or promises a hike in the future as we head into the most uncertain FOMC meeting of the current cycle. Treasuries are likely to bear flatten sharply in the event of a rate hike as the market pencils in the potential for more hikes in July. However, if the Fed passes on a hike, we expect the curve to bull steepen sharply even if the Fed continues to insist that they are not finished tightening yet,\u201d Munoz and his team said. <\/p>\n<\/p><\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.marketwatch.com\/story\/treasury-yields-a-touch-firmer-as-market-eyes-approaching-fed-decision-c2133aae?mod=markets\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>U.S. bond yields were higher on Friday in quiet trading as investors tried to keep their powder dry ahead of next week\u2019s May inflation data and a Federal Reserve interest-rate decision. What\u2019s happening The yield on the 2-year Treasury TMUBMUSD02Y, 4.602% advanced 7 basis points to 4.594% versus 4.517% at 3 p.m. Eastern Thursday. The [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1898,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-20505","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-markets","tag-featured","post_format-post-format-gallery"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Treasury yields rise as investors eye approaching Fed decision | iFintechWorld<\/title>\n<meta name=\"description\" content=\"U.S. bond yields were higher on Friday in quiet trading as investors tried to keep their powder dry ahead of next week\u2019s May inflation data and a Federal\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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