US 10Y TREASURY: inflation data ahead
The NFP data were in the center of market attention during the previous week. Analysts perceived posted data as “not too hot and not too cold”. Indeed, they were somewhere in between. The US economy added 227K new jobs, which was higher from market estimate, but at the same time the unemployment rate reached 4,2%, a modest increase from 4,1% posted previously. Regardless of these mixed data, CME FedWatch Tool is showing 85% odds for a 25 bps rate cut in December. It should be taken into account that the US inflation data is set to be released during the week ahead, which will bring another layer to market expectations.
The 10Y US Treasury benchmark yields were traded to the downside during the previous week. For the second week in a row yields are gradually taking the down course. During the previous week, the 10Y benchmark was closed at the level of 4,17%. Next week, the US November inflation data will be posted, however, investors are currently positioning for the FOMC meeting, scheduled for December 17-18th.
The 10Y US Treasury benchmark yields were traded to the downside during the previous week. For the second week in a row yields are gradually taking the down course. During the previous week, the 10Y benchmark was closed at the level of 4,17%. Next week, the US November inflation data will be posted, however, investors are currently positioning for the FOMC meeting, scheduled for December 17-18th.
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