Investors parsed data on inflation and jobless claims out Thursday.
U.S. Treasury yields inched higher as traders parsed the latest economic data in the runup to Friday's all-important jobs report.2.1% in September from the same month a year prior. That's in line with the consensus forecast of economists polled by Dow Jones and close to the goal of 2% annualized inflation set by monetary policymakers.Weekly jobless claims, meanwhile, came in under where economists polled by Dow Jones had anticipated.
These releases come as investors await data on nonfarm payrolls, the unemployment rate and hourly wages due Friday. It's the last so-called jobs day before the U.S. presidential election and next Federal Reserve policy meeting, which are both scheduled for next week.strike and a couple of hurricanes expected to depress job creation," said Christopher Rupkey, chief economist at FWDBONDS.
Fed funds futures are currently pricing in a likelihood of more than 96% that the central bank delivers a quarter-point rate cut, according to CME Group'ssince the early days of the Covid-19 pandemic when it slashed half a percentage point off benchmark rates in September.ahead of the Nov. 6-7 meeting, which means they will not be delivering remarks off the back of the data releases, or about their general policy and economic expectations.
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