Selloff Puts Treasuries on Path for Worst Month in Two Years
- Mixed US economic data on Tuesday keeps pressure on bonds
- Traders prepare for US debt announcement, jobs data, election
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Treasuries are on track for their worst month in more than two years amid signs of economic strength, posturing for next week’s US presidential election and heavy supply of new notes and bonds.
US government debt was briefly buoyed Tuesday by a surprise slide in job openings that was then offset by a jump in consumer confidence. Despite generally stronger-than-expected economic data since the Federal Reserve cut interest rates in mid-September, traders are clinging to wagers on a quarter-point reduction at next week’s Fed meeting.