-- There’s one hope left for bond traders burned by this year’s selloff: a sign that the Federal Reserve is gaining the upper hand in its fight against inflation.Mark Zuckerberg’s Wealth Exceeds Elon Musk’s for the First Time Since 2020
The Treasury market has struggled to find a bottom this year as the economy has defied gloomy forecasts, scuttling once widespread conviction that the Fed by now would already be cutting interest rates to spur growth. While the resilience has helped drive stocks higher, bonds have delivered another round of losses as yields push through levels where they were previously expected to stabilize.
“A month ago, two months ago, it would’ve been a case that 4.5% looks good, and now I want to be a little patient because the economy is stronger,” he said. “The data has certainly most recently been better than expected and we’ve certainly seen that in the last week. The inflation side has been stickier than most expected.”“If the selloff continues toward 4.51% over the next week, momentum indicators may reach territory consistent with a pause or partial retracement. A break of 4.
Priya Misra, portfolio manager at JPMorgan Asset Management, said she thinks it’s already time to start shifting toward 10-year notes. She noted that wage gains have been subdued despite the strong labor market, indicating that the demand for workers isn’t fueling upward pressure on inflation.
The bank said it became aware of "allegations" against Ahn and launched an investigation that found she violated the bank's code of conduct by having an "undisclosed close personal relationship with another employee which led to preferential treatment of the employee including promotion and compensation increases." Both employees had their employment terminated as a result, the bank said in a statement.
Loans Loans Latest News, Loans Loans Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
Source: YahooFinanceCA - 🏆 47. / 63 Read more »