U.S. government debt prices were higher Thursday morning, after the Fed failed to signal further rate cuts this year, disappointing market expectations.
cut the overnight rate by 25 basis points on Wednesday. This is the second time this year the Fed has lowered rates. However, the central bank dampened market expectations by steering clear of signalling further rate cuts this year.On the data front, there will be jobless claims and current account numbers due at 08:30 a.m. ET, and existing home sales due at 10:00 a.m. ET.
The Treasury is set to auction $50 billion in 4-week bills, $40 billion in 8-week bills and $32 billion in 7-year notes.
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