Treasuries Extend Post-Fed Rally With All Eyes on Jobs Data
- Powell soothed market fears of an interest-rate hike this year
- Traders await jobless claims, factory orders and payrolls data
The US Department of the Treasury in Washington, DC.
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Treasuries rose ahead of a barrage of US data that may support bets the Federal Reserve will still cut interest rates this year, despite signs the downtrend in inflation has stalled.
The yield on 10-year Treasuries fell as much as four basis points to 4.59%, extending gains that followed Fed Chair Jerome Powell’s remarks on Wednesday. Powell soothed investors’ fears that he would lean forcefully against the prospect of easing or even flag a potential rate hike.