U.S. Treasury yields were slightly lower Monday as global stocks continue to make a comeback.
U.S. Treasury yields were lower early Monday, with the release of Federal Reserve meeting minutes and the closely watched central bank symposium at Jackson Hole on the agenda this week.U.S. retail sales figures
for July and weekly initial jobless claims, which were both better than expected. The figures helped ease recent concerns about the health of the U.S. economy, boosting globalMarkets continue to fully price in a Fed rate cut in September, though they have slashed the odds of a 50 basis point reduction to just 28.5%, according to CME's FedWatch tool.
On the cards in the coming days are the release of minutes from the Fed's July meeting minutes on Wednesday, and the Jackson Hole symposium, which kicks off on Thursday. Fed Chair Jerome Powell will on Friday deliver a speech at the annual event, which attracts economists, monetary policymakers and academics from around the world."Jackson Hole is going to be something which is going to give very important cues to the market in terms of what should we be expecting in September ...
"Our own expectations are this is going to be a 25 basis point rate cut unless we see a sizeable deterioration in the labor market in the September 6 jobs report."
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