{"id":42631,"date":"2023-07-31T12:31:21","date_gmt":"2023-07-31T16:31:21","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/treasury-yields-hold-steady-ahead-of-busy-week-of-u-s-data\/"},"modified":"2023-07-31T12:31:23","modified_gmt":"2023-07-31T16:31:23","slug":"treasury-yields-hold-steady-ahead-of-busy-week-of-u-s-data","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=42631","title":{"rendered":"Treasury yields hold steady ahead of busy week of U.S. data"},"content":{"rendered":"<div id=\"js-article__body\" itemprop=\"articleBody\" data-sbid=\"WP-MKTW-0002342680\" role=\"document\">\n<p>Treasury yields were little changed Monday morning as traders eyed a busy week that includes U.S. jobs-related data.<\/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=\"\">4.857%<\/bg-quote><br \/>\n       fell 2 basis points to 4.875% from 4.895% on Friday. Yields move in the opposite direction of 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=\"\">3.935%<\/bg-quote><br \/>\n       slipped less than 1 basis point to 3.961% from 3.968% 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=\"\">3.996%<\/bg-quote><br \/>\n       was little changed at 4.022% versus 4.028% late Friday.<\/p>\n<\/li>\n<li>\n      On Friday, the 10- and 30-year yields ended the New York session with their biggest weekly increases in three weeks.<\/p>\n<\/li>\n<\/ul>\n<h2>What\u2019s driving markets<\/h2>\n<p>Outside the U.S., a report released on Monday showed activity in China\u2019s manufacturing sector shrank for a fourth consecutive month in July. The development reinforced the belief that the government will go through with a raft of proposals designed to boost demand. <\/p>\n<div class=\"paywall\">\n<p>Traders were also assessing data which showed eurozone core annual inflation remained elevated at 5.5% in July. The yield on German 10-year bunds<br \/>\n        TMBMKDE-10Y,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.000%\" channel=\"\" class=\"\">2.491%<\/bg-quote><br \/>\n       was up 3 basis points to 2.519% after the report on Monday.<\/p>\n<p>In U.S. economic updates set for release on Monday, the Federal Reserve\u2019s senior loan officer survey, or SLOOS, for the second quarter, is due at 2 p.m. Eastern time.<\/p>\n<p>After Friday\u2019s data showed inflationary pressures easing further in the U.S., the main focus this week is likely to be Friday\u2019s nonfarm payrolls report, which should contribute to the Federal Reserve\u2019s assessment of whether to continue tightening monetary policy.<\/p>\n<p> Markets are pricing in a 79.5% probability that the Fed will leave interest rates unchanged at a range of 5.25%-5.5% on Sept. 20, according to the CME FedWatch Tool. The chances of a 25 basis point rate hike to a range of 5.50-5.75% at the subsequent meeting in November are priced at 29.7%.<\/p>\n<p>The central bank is expected to take its fed funds rate target back down to around 5% or lower next year.<\/p>\n<h2>What analysts are saying<\/h2>\n<p>\u201cToday\u2019s release of the Fed\u2019s second quarter Senior Loan Officers\u2019 Outlook Survey on lending is expected to show further tightening of credit standards,\u201d said Chris Low, chief economist of FHN Financial in New York.<\/p>\n<p>The combination of strengthening GDP growth and tightening credit \u201cunderscores the difficulty of managing monetary policy as it becomes restrictive,\u201d Low wrote in a note. \u201cThe Fed has engendered tightening credit, but how tight, and whether it will continue to tighten enough to keep inflation on a receding track without tipping the economy into recession is still an open question.\u201d<\/p>\n<\/p><\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.marketwatch.com\/story\/treasury-yields-track-higher-global-trend-amid-hopes-for-china-stimulus-751487a7?mod=markets\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Treasury yields were little changed Monday morning as traders eyed a busy week that includes U.S. jobs-related data. What\u2019s happening The yield on the 2-year Treasury TMUBMUSD02Y, 4.857% fell 2 basis points to 4.875% from 4.895% on Friday. Yields move in the opposite direction of prices. The yield on the 10-year Treasury TMUBMUSD10Y, 3.935% slipped [&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-42631","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 hold steady ahead of busy week of U.S. data | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Treasury yields were little changed Monday morning as traders eyed a busy week that includes U.S. jobs-related data.What\u2019s happening The yield on the\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" 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