Business

Treasury yields edge lower ahead of U.S. consumer expectations report

Bond yields fell slightly on Monday as markets waited for data on consumer inflation expectations.

The return on the benchmark 10-year Treasury Note was down 3 basis points, trading at 3.29% around 7 a.m. ET. The yield on the 30-year government bond fell by about 2 basis points to 3.439%.

The return on the 2-year Treasury was 3 basis points lower at 3.536%. Yields move inversely to prices and a basis point equals 0.01%.

Read:Household bills to soar further as companies warn of ‘entire market malfunction’ – The Irish Times

Markets will look to the New York Fed’s Survey of Consumer Expectations, which outlines what consumers expect headline inflation and prices to look like for food, housing, gas and education. It also provides insight into earnings growth and employment prospects.

As markets gained on Friday, and the S&P 500 rose above where it closed on the day Federal Reserve Chairman Jerome Powell warned of more pain at the Fed’s Jackson Hole meeting, fears of aggressive rate hikes rose among some investors. off. But while US consumption remains healthy, growth is weak, and the global economic slowdown still worries many about a recession.

Recent data shows that the pace of inflation is slowing, but consumers are still struggling; according to the personal finance website WalletHub, nearly a third of Americans struggle to pay their utility bills.

Read:Jeremy Clarkson proposes government abolish NHS to save money

On the bond auction front, the auction for the 3-year, 10-year, 3-month and 6-month bills is due on Monday.

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