Treasury Prices Recover Losses
MARKETSCOPE: Treasury bond prices recovered their initial losses Thursday, as investors watched economic data and wondered what happens next to interest rates.
The benchmark 10-year Treasury notes were yielding 4.78% at noon Eastern Daylight Time compared to 4.79% at the previous session's close. The bonds had initially opened weaker at 4.82%. Yields rise when prices fall.
News hit earlier that U.S. Wholesale Inventories rose 0.8% in July, more than the 0.6% markets expected, after rising 0.8% in June. Initial Jobless Claims fell 9,000 to 310,000 in the week ended Sept. 2 from 319,000 the week before, which was revised from 318,000.
There is much debate about what the Fed will do at the Sept. 20 policy meeting, and whether the economy will have a soft or hard landing.
There is little reaction to news that Bank of England left its key rate unchanged at 4.75%, as expected.