Bonds
Bond Traders Await US Inflation Data With Oil Rise in Focus
A worker prepares a fuel refill hose at a Chevron gas station in Rodeo, California, on March 2.
Photographer: David Paul Morris/BloombergBond investors are looking ahead to a series of inflation reports, including the consumer price index for February, at a moment when surging oil prices are largely dictating flows in the $31 trillion Treasury market.
The risk of a potential inflation spike from an extended conflict in the Middle East has prompted traders to push out expectations for Federal Reserve rate cuts this year from July to September. A surprise slide in job hiring for February provided limited support for bonds as oil prices jumped.