Jobs data posted during the previous week shaped investors sentiment. The JOLTs job openings in May reached the level of 7.769M, higher from market forecast of 7,3M. The main impact on the market came from the NFP data for June, with 147K new jobs, above market expectations of 110K. At the same time, unemployment fell to 4,1% in June. Strong jobs data significantly decreased market expectations that the Fed might potentially cut interest rates at July's FOMC meeting. Current odds still hold for September's cut.
A “higher for longer” is again wording used by market participants. The 10Y Treasury yields adjusted to that expectation by increasing yields from 4,2% toward 4,33% as of the end of the week. In a week ahead, there are no currently significant US macro data scheduled for a release. In this sense, it could be expected a short relaxation of the 10Y yields, where levels between 4,3% and 4,8% could be shortly tested.
A “higher for longer” is again wording used by market participants. The 10Y Treasury yields adjusted to that expectation by increasing yields from 4,2% toward 4,33% as of the end of the week. In a week ahead, there are no currently significant US macro data scheduled for a release. In this sense, it could be expected a short relaxation of the 10Y yields, where levels between 4,3% and 4,8% could be shortly tested.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.