Traders Look to US Jobs Data to Support the Rally in Treasuries

BLS issues preliminary benchmark employment revision Wednesday
Treasuries are up, dollar is down this month on rate-cut bets

WATCH: JPMorgan’s Kelsey Berro says a policy rate closer to 3.5% to 4% is where we should be trending based on inflation data.Source: Bloomberg

Provide news feedback or report an error

Confidential tip?

Send a tip to our reporters

Site feedback:

Take our Survey

By Sydney Maki

August 21, 2024 at 6:00 AM EDT

Updated on

August 21, 2024 at 8:07 AM EDT

This article is for subscribers only.

Investors who’ve positioned for more gains in US Treasuries will look to revised data on the US labor market for signs the Federal Reserve needs to start aggressively slashing interest rates.

A Bloomberg gauge of Treasuries surged 1.7% this month as investors bet the US central bank will lower rates by as much as a percentage point this year, with the first move likely in September. The yield on policy-sensitive two-year notes has fallen more than 25 basis points to just below 4%.