{"id":84051,"date":"2023-11-13T14:47:08","date_gmt":"2023-11-13T19:47:08","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/treasury-yields-jump-ahead-of-octobers-cpi-inflation-data-on-tuesday\/"},"modified":"2023-11-13T14:47:09","modified_gmt":"2023-11-13T19:47:09","slug":"treasury-yields-jump-ahead-of-octobers-cpi-inflation-data-on-tuesday","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=84051","title":{"rendered":"Treasury yields jump ahead of October\u2019s CPI inflation data on Tuesday"},"content":{"rendered":"<div id=\"js-article__body\" itemprop=\"articleBody\" data-sbid=\"WP-MKTW-0002720423\" role=\"document\">\n<p>Two- through 30-year yields jumped Monday morning as the market prepared for data on consumer and producer prices in the next few days.<\/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 up 5.3 basis points at 5.075% from 5.022% 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        BX:TMUBMUSD10Y<br \/>\n       rose 5 basis points to 4.679% from 4.629% on Friday.<\/p>\n<\/li>\n<li>\n      The yield on the 30-year Treasury<br \/>\n        BX:TMUBMUSD30Y<br \/>\n       advanced 1.3 basis points to 4.790% from 4.777% on Friday.<\/p>\n<\/li>\n<\/ul>\n<h2>What\u2019s driving markets<\/h2>\n<p>Hopes that recent signs of a cooling economy can help ease inflationary pressures \u2014 and allow the Federal Reserve to halt its campaign of interest rate increases \u2014 will be put to the test in coming sessions. The October consumer price index report will be published on Tuesday and the producer prices data is set for release on Wednesday. <\/p>\n<div class=\"paywall\">\n<p>The CPI year-on-year core number, which strips out volatile items like food and energy, is expected to be unchanged at 4.1%, but the headline rate is forecast to fall to 3.3% from 3.7% in September.<\/p>\n<p>Ahead of the data, markets are pricing in an 85.9% probability that the Fed will leave interest rates unchanged at a range of 5.25%-5.5% on Dec. 13, according to the CME FedWatch Tool. The chance of a 25-basis-point rate hike to a range of 5.5%-5.75% by January is priced at 26%, up from 14.8% a week ago.<\/p>\n<h2>What analysts are saying<\/h2>\n<p>\u201cThe process of consolidation continues in the US rates market as investors await Tuesday\u2019s CPI release,\u201d said BMO Capital Markets strategists Ian Lyngen and Ben Jeffery.<\/p>\n<p>\u201cCPI is unlikely to shift the Fed\u2019s thinking regarding another pause in December, still the most likely outcome,\u201d they wrote in a note. \u201cHowever, any upside surprise on the inflation front would, at a minimum, push rate cut forecasts further into 2024. We maintain that the market is discounting Powell\u2019s hawkish resolve and the Committee\u2019s willingness to maintain a restrictive policy stance even as the real economy shows increasing evidence of slowing to the point of contraction.\u201d<\/p>\n<\/p><\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.marketwatch.com\/story\/treasury-yields-dip-ahead-of-inflation-data-in-coming-days-abae95c4?mod=markets\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Two- through 30-year yields jumped Monday morning as the market prepared for data on consumer and producer prices in the next few days. What\u2019s happening The yield on the 2-year Treasury BX:TMUBMUSD02Y was up 5.3 basis points at 5.075% from 5.022% on Friday. Yields move in the opposite direction to prices. The yield on 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-84051","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 jump ahead of October\u2019s CPI inflation data on Tuesday | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Two- through 30-year yields jumped Monday morning as the market prepared for data on consumer and producer prices in the next few days.What\u2019s happening\" \/>\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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