Bond yields rose on Monday after a U.S. government showdown that could have damaged the economy was averted.
What’s happening What’s driving markets Traders had gone into the weekend expecting a U.S. government shutdown that by some analysts estimates could have knocked 0.1 percentage points per week of U.S. GDP growth.
Markets are pricing in a 71% probability that the Fed will leave interest rates unchanged at a range of 5.25% to 5.50% after its next meeting on November 1, according to the CME FedWatch tool. U.S. economic updates set for release on Monday include the S&P final manufacturing PMI for September, due at 9:45 a.m. Eastern, followed at 10 a.m. by the September ISM manufacturing survey, and August construction spending.
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