{"id":60848,"date":"2023-09-14T08:02:28","date_gmt":"2023-09-14T12:02:28","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/treasury-yields-static-as-traders-eye-u-s-retail-sales-data\/"},"modified":"2023-09-14T08:02:31","modified_gmt":"2023-09-14T12:02:31","slug":"treasury-yields-static-as-traders-eye-u-s-retail-sales-data","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=60848","title":{"rendered":"Treasury yields static as traders eye U.S. retail sales data"},"content":{"rendered":"<div id=\"js-article__body\" itemprop=\"articleBody\" data-sbid=\"WP-MKTW-0002502789\" role=\"document\">\n<p>U.S. bond yields held steady Thursday as investors continued to absorb August consumer inflation data and waited for factory gate prices and an update on retail sales.<\/p>\n<h2>What\u2019s happening<\/h2>\n<ul class=\"articleList\">\n<li>\n      The yield on the 2-year Treasury<br \/>\n        BX:TMUBMUSD02Y<br \/>\n       was barely changed at 4.990%. <\/p>\n<\/li>\n<li>\n      The yield on the 10-year Treasury<br \/>\n        BX:TMUBMUSD10Y<br \/>\n       rose less than 1 basis points to 4.264%.<\/p>\n<\/li>\n<li>\n      The yield on the 30-year Treasury<br \/>\n        BX:TMUBMUSD30Y<br \/>\n       gained 1.6 basis points to 4.360%.<\/p>\n<\/li>\n<\/ul>\n<h2>What\u2019s driving markets<\/h2>\n<p>U.S. bond yields are relatively steady early Thursday as traders continued to absorb Wednesday\u2019s mixed reading on August consumer price inflation and looked ahead to the August producer prices data and retail sales numbers, both due at 8:30 a.m. Eastern.<\/p>\n<div class=\"paywall\">\n<p>Other U.S. economic updates set for release on Thursday, include the weekly initial jobless benefit claims at 8:30 a.m. and July business inventories at 10 a.m..<\/p>\n<p>Unless these releases contain significant shocks, the market is likely to continue pricing in 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 September 20.<\/p>\n<p>The chances of the central bank also standing pat at the subsequent meeting in November is priced at 60%, according to the CME FedWatch tool. <\/p>\n<p>Meanwhile, benchmark German 10-year bund yields<br \/>\n        BX:TMBMKDE-10Y<br \/>\n       were down 1.3 basis points to 2.642% ahead of the European Central Bank\u2019s policy decision, due at 2:15 p.m. local time, or 8:15 a.m. Eastern.<\/p>\n<h2>What are analysts saying<\/h2>\n<p>\u201cUnusually, there\u2019s quite a bit of uncertainty about whether it\u2019ll [the ECB] deliver another hike today, or whether it\u2019ll pause the hiking cycle after a run of 9 consecutive moves. Market pricing is currently pointing to a 66% likelihood of a hike [of 25 basis points] as we go to press this morning, which is up from 38% at the end of last week,\u201d said Henry Allen, strategist at Deutsche Bank.<\/p>\n<p>\u201cIn the meantime, the consensus of economists on Bloomberg is narrowly suggesting that the ECB will stay on hold, and that\u2019s what our own European economists at DB expect as well. \u2026They write that recent data has shown increasing evidence that tighter monetary policy is being transmitted, which favors a pause. Today will also see the release of the ECB\u2019s latest growth and inflation forecasts, so one to watch out for,\u201d Allen added.<\/p>\n<\/p><\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.marketwatch.com\/story\/treasury-yields-static-as-traders-eye-retail-sales-data-2ed310e9?mod=markets\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>U.S. bond yields held steady Thursday as investors continued to absorb August consumer inflation data and waited for factory gate prices and an update on retail sales. What\u2019s happening The yield on the 2-year Treasury BX:TMUBMUSD02Y was barely changed at 4.990%. The yield on the 10-year Treasury BX:TMUBMUSD10Y rose less than 1 basis points to [&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-60848","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 static as traders eye U.S. retail sales data | iFintechWorld<\/title>\n<meta name=\"description\" content=\"U.S. bond yields held steady Thursday as investors continued to absorb August consumer inflation data and waited for factory gate prices and an update on\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, 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