Treasury yields were lower on Tuesday after robust manufacturing data appeared to reduce the likelihood of the Federal Reserve cutting interest rates in June.
was 2 basis points lower at 4.693%. Yields and prices move in opposite directions and one basis point equals 0.01%.rose to 50.3, up from 47.8 in February and significantly better than the 48.1 Dow Jones consensus estimate. The index measures the percentage of companies reporting expansion against contraction, so anything over 50 indicates growth.
Markets interpreted the unexpected return of U.S. manufacturing growth"as reducing the chances of meaningful Fed rate cuts," Dutch bank INGfor the fifth consecutive time, in line with expectations, keeping its benchmark overnight borrowing rate in a range of 5.25%-5.5%. The Fed also said at the time that it still expects three quarter-percentage point cuts by the end of the year." on Thursday that the likelihood of one or no Fed rate cuts this year is looking"pretty good.
"Nonetheless, there are also a lot of jobs numbers through the week, culminating in Friday's non-farm payrolls figures and unemployment rate. It could be a choppy week of trading ahead," he added.Dallas
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.
Treasury yields dip as Fed meeting is due to kick offU.S. Treasury yields were slightly lower on Tuesday ahead of the Federal Reserve’s meeting.
Read more »
Treasury yields dip as Fed meeting is due to kick offU.S. Treasury yields were slightly lower on Tuesday ahead of the Federal Reserve’s meeting.
Read more »
TxDOT closing some lanes of I-35 Tuesday on NE Side Tuesday for construction workThe two left lanes of the north and southbound main lanes of Interstate 35 from Walzem Road to Weidner Road will be closed until 3 p.m. on Tuesday. Crews are installing new lighting on that section of the interstate.
Read more »
Hunter Biden Could Face Trial on Federal Firearms Charges in JuneHunter Biden could potentially face trial in Delaware on federal firearms charges in June, amidst his father's reelection campaign. The trial is tentatively set to begin on June 3 and could last up to nine days. Hunter Biden has pleaded not guilty to lying about his drug use on a gun purchase form. A separate trial on tax charges against him in California is also tentatively scheduled for later that month.
Read more »
Hunter Biden trial on federal gun charges tentatively set for June 3Hunter Biden could face trial in Delaware on federal firearms charges as soon as June, in the midst of his father's reelection campaign.
Read more »
Houston crime: Man pleads guilty to assault of federal officer after damaging federal courthouseA 37-year-old Houston resident pleaded guilty to assaulting a federal officer after damaging two downtown buildings with a metal pole, facing up to 20 years in federal prison, as announced by U.S. Attorney Alamdar S. Hamdani.
Read more »