U.S. Treasury Yields Rise Ahead of Fed Clues and Economic Data
L'essentiel
- Treasury yields increased on Wednesday as investors awaited signals on the Federal Reserve's monetary policy path.
- Fed Chair Kevin Warsh is scheduled to speak at the ECB forum, while key ISM Manufacturing PMI and ADP employment figures are also due.
Résumé généré par IA
Pourquoi c'est important
U.S. Treasury yields rose as investors awaited more data and clues on the Federal Reserve's monetary policy path. Markets are currently pricing in probabilities for the Fed's July and September meetings.
U.S. Treasury yields rose on Wednesday, as investors awaited more data and clues on the Federal Reserve's monetary policy path.
The yield on the benchmark 10-year Treasury note — the main benchmark for mortgages, auto loans and credit card debt — was 4 basis points higher at 4.469% at 7:12 a.m. ET.
The shorter-term 2-year note added 3 basis points to trade at around 4.172%, while the yield on the 30-year Treasury was up by 6 basis points at 4.963%.
Newly appointed Fed Chair Kevin Warsh is set to give a speech at the European Central Bank's annual policy forum in Sintra, Portugal, on Wednesday. Investors will be monitoring the talk for clues on what lies ahead for the Fed's monetary policy agenda.
At 9 a.m. ET, Warsh will also join a panel at the conference with CNBC's Sara Eisen, alongside the governors of the Bank of England, European Central Bank, and the Bank of Canada.
Markets are currently pricing in a 66.3% chance of the Fed keeping rates steady at its July meeting, and a 66.9% chance that it enacts at least a quarter-point hike at the subsequent FOMC meeting in September, according to the CME's FedWatch tool.
Investors will also be monitoring ISM Manufacturing PMI data due at 10 a.m. ET, as well as ADP employment figures due later this morning.
À surveiller
Perspective IA — des possibilités, pas des certitudes
Fed Chair Kevin Warsh will give a speech at the European Central Bank's annual policy forum.
Très probable · En quelques heures
ISM Manufacturing PMI data and ADP employment figures will be released.
Très probable · En quelques heures
Questions ouvertes
- What clues will Fed Chair Warsh provide on monetary policy?
- What will the ISM Manufacturing PMI data reveal?
- What will the ADP employment figures indicate?
