Gut Check Time for Treasuries After Biggest Rally Since 2008
- 30-year U.S. Treasury yields sank to a record low last week
- Traders turn to jobs data, trade updates, Powell speech
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The rally that swept through the Treasury market in August is the strongest since the depths of the 2008 crisis. This insatiable demand for the safety of bonds faces a reality check in the days ahead.
A roster of events may provide insight into the strength of the U.S. economy and the Federal Reserve chief’s thoughts. On Friday, the monthly payrolls report is expected to show continued labor market strength. Later that day, Jerome Powell is set to speak for the last time before the Fed’s quiet period leading up to policy makers’ next decision on rates.