U.S. Treasury yields fell on Monday as investors awaited the release of key economic data and looked to the Federal Reserve’s meeting scheduled for the week.
U.S. Treasury yields fell on Monday as investors awaited the release of key economic data and looked to the Federal Reserve's meeting scheduled for the week.Investors awaited the Federal Reserve's July meeting and key data from the labor market slated for the week.The Fed's meeting is set to kick off Tuesday and conclude Wednesday with an interest rate announcement and the release of fresh monetary policy guidance.
Rates are widely expected to remain unchanged, but investors are hoping for clues about when rate cuts will begin and how many will take place this year. They will therefore be closely watching any policy guidance released by the central bank and the post-meeting press conference with Fed Chairman Jerome Powell.
Fed officials have in recent months repeatedly said that they were looking for more evidence that inflation is sustainably returning to the 2% target before cutting rates.On Friday, the personal consumption expenditures price index, which is the Fed's favored inflation measure, came in as expected. The PCE rose 0.1% in June from the previous month, and 2.5% from a year earlier.
On the data front, JOLTs job opening figures are due Tuesday, followed by ADP's private payrolls report Wednesday and the July jobs report, which includes nonfarm payrolls and unemployment data, on Friday. Investors will be looking at the data for hints about the state of the labor market, as this could also inform monetary policy expectations and decision-making.New Jersey
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