U.S. government-debt yields remained higher Wednesday morning as reduced expectations for a Federal Reserve rate cut in March overshadowed data on manufacturing and job openings.What’s happening
The yield on the 2-year Treasury
BX:TMUBMUSD02Y
advanced 1.3 basis points to 4.341%, from 4.328% on Tuesday.
The yield on the 10-year Treasury
BX:TMUBMUSD10Y
rose 3.5 basis points to 3.979%, from 3.944% Tuesday afternoon.
The yield on the 30-year Treasury
BX:TMUBMUSD30Y
also climbed by 3.5 basis points to 4.119%, from 4.084% late Tuesday.
What’s driving markets On Wednesday, Richmond Fed President Tom Barkin said that the timing and pace of any changes in interest rates this year will be determined by conviction on whether inflation is still coming down and how well the economy is doing. His remarks came ahead of the planned 2 p.m. Eastern time release of the minutes from the central bank’s Dec. 12-13 policy meeting.The market has started 2024 by questioning expectations that the Federal Reserve will begin cutting interest rates in March. The shift reflects concerns that investors may have misjudged the Fed’s desire to quickly trim rates in response to falling inflation.
Fed-funds futures traders now see a 91.2% chance of the Fed leaving its benchmark rate between 5.25% and 5.5% on Jan. 31, according to the CME FedWatch Too …
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The yield on the 2-year Treasury
BX:TMUBMUSD02Y
advanced 1.3 basis points to 4.341%, from 4.328% on Tuesday.
The yield on the 10-year Treasury
BX:TMUBMUSD10Y
rose 3.5 basis points to 3.979%, from 3.944% Tuesday afternoon.
The yield on the 30-year Treasury
BX:TMUBMUSD30Y
also climbed by 3.5 basis points to 4.119%, from 4.084% late Tuesday.
What’s driving markets On Wednesday, Richmond Fed President Tom Barkin said that the timing and pace of any changes in interest rates this year will be determined by conviction on whether inflation is still coming down and how well the economy is doing. His remarks came ahead of the planned 2 p.m. Eastern time release of the minutes from the central bank’s Dec. 12-13 policy meeting.The market has started 2024 by questioning expectations that the Federal Reserve will begin cutting interest rates in March. The shift reflects concerns that investors may have misjudged the Fed’s desire to quickly trim rates in response to falling inflation.
Fed-funds futures traders now see a 91.2% chance of the Fed leaving its benchmark rate between 5.25% and 5.5% on Jan. 31, according to the CME FedWatch Too …nnDiscussion:nn” ai_name=”RocketNews AI: ” start_sentence=”Can I tell you more about this article?” text_input_placeholder=”Type ‘Yes'”]