The yield on US Treasury bonds rose moderately, while market participants are preparing for the publication of US statistical data, which may provide new clues about the current state of the economy and affect the prospects for tightening the Fed's monetary policy. In addition, today, Richmond Fed President Tom Barkin and San Francisco Fed President Mary Daly plan to discuss economic prospects.
The yield on 5-year Treasury bonds rose by 2.1 basis points, reaching 3.279%, while the yield on 30-year bonds was 3.336% (+3.1 basis points). Meanwhile, the yield on 2-year Treasury bonds, reflecting expectations of short-term interest rates, increased by 1.7 basis points to 3.128%, while the yield on 10-year bonds increased to 3.222% (+2.8 basis points).
In recent weeks, investors have been increasingly concerned about the recession, given the aggressive tightening of the Fed's policy to combat high inflation.
As for the US data, today at 13:00 GMT S&P/Case-Shiller Home Price Indices for April will be released. Economists expect growth to slow to 21% per annum from 21.2% per annum in March. Meanwhile, at 14:00 GMT the consumer confidence indicator for June will be published. Consensus estimates suggest a decline to 100.4 points from 106.4 points in May.