Ekonomické zprávy

US bond yields are showing positive dynamics

The yield on US Treasury bonds rose slightly, while market participants continued to analyze US data, trying to predict the Fed's next steps.

The yield on 5-year Treasury bonds grew by 2.8 basis points, reaching 4.238%, while the yield on 30-year bonds was 3.945% (+0.7 basis points). Meanwhile, the yield on 2-year Treasury bonds, reflecting expectations of short-term interest rates, increased by 4.2 basis points to 4.847%, while the yield on 10-year bonds increased to 3.965% (+1.6 basis points). The curve between the 10-year Treasury yield and the 2-year yield remains inverted, sending a warning that the economy may be falling or has already fallen into recession. Now the gap between 10 and 2 year U.S. debt is 88 basis points.

Data released on Friday indicated an acceleration in spending growth and inflation in the United States, which increased investors' fears that the Fed may continue to raise interest rates in the summer. This week, data on US PMI indices will be presented, which will play an important role in shaping investors' expectations regarding the March Fed meeting. Also this week, many Fed policymakers are scheduled to speak, which may force market participants to overestimate the likelihood of further interest rate hikes.

As for today's events, a report on durable goods orders for January will be released at 13:30 GMT (consensus estimates suggest a decrease of 4% after an increase of 5.6% in December), and at 15:00 GMT data on pending housing sales for January will be published (economists expect a 0.9% rise after a 2.5% increase in December). Meanwhile, Philip Jefferson, member of the Federal Reserve Board of Governors, will deliver a speech at 15:30 GMT.

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