Treasury yields climbed on Monday as markets scanned Federal Reserve speaker remarks for hints about the central bank’s policy plans.
Both had plummeted on Thursday, dropping by around 30 and 32 basis points respectively.Investors are closely watching remarks from Federal Reserve speakers for clues about the central bank's policy plans.
Speaking at a conference in Sydney on Monday, Fed Governor Christopher Waller said that while the central bank would consider slowing interest rate hikes, there's still "a ways to go" before hikes can be paused. The central bank has been hiking interest rates to fight persistently high inflation. However, many investors fear that the pace of the hikes is leading the U.S. economy into a recession.
Inflation data released on Thursday showed that consumer prices had risen by less than expected in October. Traders broadly saw this as a sign of inflationary pressures easing and hoped this would prompt a changed in Federal Reserve policy.Markets will gain further insight into whether inflation is cooling off on Tuesday, when producer price index data is due.
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