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Economic data, focus on Treasury yields in auctions

Yields on the US Treasury fell slightly on Thursday as investors continue to appreciate the outlook for the recession.

Benchmark yield 10-year government bond Slightly lower to trade at 3.0612%, 30-year government bond It fell to 3.1989%. Yield is inversely proportional to price.

Concerns over a slowdown and aggressive rate hikes as the second quarter nears the end on Thursday Federal Reserve Continue to dominate market sentiment.

Federal Reserve Chairman Jerome Powell on Wednesday Said Policy makers will not allow inflation to dominate the US economy in the long run.

Powell said in a forum at the European Central Bank that it is important to thwart long-term inflation expectations so that they do not settle and create a self-fulfilling cycle.

“We are keen on using tools to reduce inflation. The way to do that is to slow growth and ideally keep it positive,” he said. rice field. “Is there a risk of going too far? Yes, there is a risk. I don’t think it’s the biggest risk to the economy. The big mistake is … failing to restore price stability,” he said.

Market participants on Thursday will monitor a new batch of economic data. For the first unemployment claim for the week ending June 18, the May personal income figures and May personal consumption data will be released at 8:30 am ET.

A major consumer spending price index (FRB recommended inflation gauge) will be released at the same time, and the Chicago Manufacturing Managers Index for June will be released at 9:45 am ET.

The Treasury will auction $ 35 billion on a four-week invoice and $ 30 billion on an eight-week invoice on Thursday.

— CNBC’s Jeff Cox and Elliot Smith contributed to this report.

Economic data, focus on Treasury yields in auctions

Source link Economic data, focus on Treasury yields in auctions

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