U.S. Treasurys climbed Monday as investors considered what could be next for Federal Reserve interest rates and weighed key economic data.
Yields and prices move in opposite directions. One basis point equals 0.01%.Investors assessed what could be next for Fed interest rate policy as uncertainty about whether the central bank will pause its rate-hiking campaign when it meets later this month has spread. The Fed has been hiking rates since March 2022 with the goal of easing inflation and cooling the economy.
Recent economic data has, however, raised questions about whether rate increases so far have had the desired effect. That includes, which on Friday showed that payrolls increased by 339,000 during the month, far exceeding what the 190,000 economists previously surveyed by Dow Jones had expected. Meanwhile, concerns about the U.S. defaulting on its debt obligations and causing global economic turmoil fell away asthe Fiscal Responsibility Act, which raises the debt ceiling, into law on Friday.
Fresh economic data that could provide hints about the state of the economy and the Fed's next monetary policy moves is expected this week. On Monday, May's ISM purchasing managers index report for the services sector and factory orders data are due.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Biden signs bipartisan debt ceiling bill to avert government defaultBREAKING: President Biden signs the bipartisan debt ceiling bill to avert government default.
Read more »
On Monday, Apple could reveal changes to Siri coming in iOS 17Bloomberg's Mark Gurman disseminated a tweet stating that we could see Apple change the Siri wake phrase to 'Siri' from 'Hey Siri.'
Read more »
Live 105 returns to the airwaves on Monday, while Dave FM goes bye-bye“The people have spoken, and we are excited to answer the call,” Audacy’s Stacey Kauffman says of the decision to bring back the legendary radio station.
Read more »
Modern rock station Live 105 will return to the airwaves MondayThe switch from 105.3 Dave FM to Live 105 will occur at 10:53 a.m. Monday.
Read more »
Traffic Alert: Center section of Valley View Bridge opening MondayBig changes are coming for drivers who use the I-480 Valley View Bridge. Drivers will be able to use the center bridge as an express lane to bypass the I-77 interchange.
Read more »
WGA Thinks Different: Striking Scribes Target Apple Stores & HQ For Monday ProtestsThe Writers Guild wants to take a bite out of Apple. Deadline has confirmed that the guild plans to bring its monthlong strike to the front door of streamer Apple TV+ on Monday. In a deft move, the…
Read more »