The recent surge in Treasury yields is expected to continue, prompting Federal Reserve speakers to emphasize the need for caution in cutting rates too early. Macquarie predicts that the speakers will adopt a hawkish tone, potentially strengthening the dollar alongside rising US yields.
will likely continue flexing its muscles against its rivals as the recent explosive jump in Treasury yields could keep going as Federal Reserve speakers are poised to reiterate the need for the Federal Reserve to remain cautious on cutting rates too early.
The Fed speakers could point to the cost of an 'early cut,' Macquarie said, though may also point to the possibility that the Fed's estimates of the US's neutral rate may need to rise further. Kashkari, President Austan Goolsbee, New York Fed President John C. Williams, Atlanta Fed President Raphael Bostic, Francisco Fed President Mary C. Daly are among the Fed speakers due this week.
The euro, meanwhile, may also face pressure from a more dovish European Central Bank. The ECB meets Thursday, with some speculating that there could chance, albeit small, of rate cut.
Federal Reserve Treasury Yields Rate Cuts Caution Hawkish Tone Dollar US Yields
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