The backup in Treasury yields may be a warning sign that the odds are slipping that the Federal Reserve will cut interest rates again at the next policy meeting on Nov. 7.
Daily Archives: October 29, 2024
Macro Briefing: 29 October 2024
US 10-year Treasury yield rose to 4.29% on Monday, the highest since July. “If the economic data this week [especially Friday’s jobs report] is strong, then expectations for a November rate cut will fall, potentially hard, and that could inject some volatility into markets. Bottom line, Goldilocks data is important this week to keep rate cut expectations stable,” says Tom Essaye, founder of Sevens Report Research.