{"id":39883,"date":"2023-07-24T14:54:36","date_gmt":"2023-07-24T18:54:36","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/treasury-yields-slip-after-soft-european-data\/"},"modified":"2023-07-24T14:54:37","modified_gmt":"2023-07-24T18:54:37","slug":"treasury-yields-slip-after-soft-european-data","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=39883","title":{"rendered":"Treasury yields slip after soft European data"},"content":{"rendered":"<div id=\"js-article__body\" itemprop=\"articleBody\" data-sbid=\"WP-MKTW-0002311431\" role=\"document\">\n<p>Yields on U.S. government debt fell Monday morning after weak economic data from Europe and as traders await a trio of central bank policy decisions later this week.<\/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=\"\">4.901%<\/bg-quote><br \/>\n       slipped by 1.3 basis points to 4.833% from 4.846% on Friday. Yields move in the opposite direction to prices.<\/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=\"\">3.856%<\/bg-quote><br \/>\n       retreated 1.8 basis points to 3.819% from 3.837% as of Friday afternoon.<\/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=\"\">3.918%<\/bg-quote><br \/>\n       fell 1.6 basis points to 3.89% from 3.906% late Friday.<\/p>\n<\/li>\n<\/ul>\n<h2>What\u2019s driving markets<\/h2>\n<p>Treasury yields were tracking declines for equivalent European paper<br \/>\n        TMBMKDE-10Y,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.000%\" channel=\"\" class=\"\">2.426%<\/bg-quote><br \/>\n       after data released on Monday showed business activity in the eurozone weakened in July at the fastest rate in eight months.<\/p>\n<div class=\"paywall\">\n<p>The slowdown suggests recent interest-rate increases by the European Central Bank \u2014 alongside slowing demand from China \u2014 may be taking their toll. <\/p>\n<p>The European Central Bank will deliver its next monetary policy decision on Thursday, a day after the Federal Reserve is expected to lift rates again as it battles inflation that remains above its 2% target.<\/p>\n<p>Markets are pricing in a 99.8% probability that the Fed will raise interest rates by 25 basis points to a range of 5.25%-5.50% on Wednesday, according to the CME FedWatch Tool. The chances of another 25-basis-point hike by November is seen at 29%.<\/p>\n<p>The U.S. central bank is expected to take its fed funds rate target back down to around 5% or lower next year.<\/p>\n<p>In U.S. economic updates released on Monday, the S&amp;P flash U.S. manufacturing PMI rose to a three-month high of 49.0 in July from 46.3 previously, while the services-related reading dropped to a five-month low of 52.4 from 54.4 in June.  <\/p>\n<h2>What analysts are saying<\/h2>\n<p>\u201cThe U.S. economy still has a lot of momentum; we pushed back our recession call and now see the Fed on hold for longer, following the 25bp hike we expect this week [on Wednesday] and another in September or November,\u201d said Ben McLannahan, Sue Ho, and Nick Gentle of Barclays.<\/p>\n<p>\u201cWe expect the ECB [on Thursday] to hike by 25bp and to guide that it is close to the peak, though not necessarily there yet,\u201d they wrote in a note. \u201cWe think the BoJ [Bank of Japan, on Friday] will stand pat, waiting for more evidence of sticky prices before launching revisions to its Yield Curve Control policy in October.\u201d<\/p>\n<\/p><\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.marketwatch.com\/story\/treasury-yields-fall-after-soft-european-data-38369a0a?mod=markets\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Yields on U.S. government debt fell Monday morning after weak economic data from Europe and as traders await a trio of central bank policy decisions later this week. What\u2019s happening The yield on the 2-year Treasury TMUBMUSD02Y, 4.901% slipped by 1.3 basis points to 4.833% from 4.846% on Friday. Yields move in the opposite direction [&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-39883","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 slip after soft European data | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Yields on U.S. government debt fell Monday morning after weak economic data from Europe and as traders await a trio of central bank policy decisions later\" \/>\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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