Treasuries gain before US data offers clues on growth outlook
==========
Treasuries gained as investors awaited data on the US labour market and remarks from a Federal Reserve official for more clarity on the path of monetary policy; Yields fell across the curve, with Fed rate-cut bets little changed on the day; Bond markets swung wildly in the past days as investors became more worried about the outlook for the US economy after a bleak jobs report last week; The market will be watching a US$25 billion auction of 30-year Treasuries at 1pm as 'the final test of investor appetite for US government bonds this week'; JPMorgan Chase & Co now sees a 35% chance that the US economy will tip into recession by the end of this year, up from 25% at the start of last month; Swaps are currently pricing 112 basis points (bps) of easing from the Fed this year, compared with about 65bps just over a week ago, with the chance of a half-point cut in September seen at 70%; For the ECB, expectations are for 72bps of additional easing this year, with a quarter-point cut fully priced in September, and for the BOE, traders expect another 48bps of cuts.
https://theedgemalaysia.com/node/722172
The Edge Malaysia /
npub15q…t0mcv
2024-08-08 12:32:27
Author Public Key
npub15q3n6g46fstp0h7wemjzwkh9jy6akndzdzk2sz8q0hwgvz6sfe3srt0mcvPublished at
2024-08-08 12:32:27Event JSON
{
"id": "352a3fcd9b2f1201968ef39ea12fe3d9a90a79731f34cb72b8fbcf258447f855",
"pubkey": "a0233d22ba4c1617dfcecee4275ae59135db4da268aca808e07ddc860b504e63",
"created_at": 1723120347,
"kind": 1,
"tags": [],
"content": "Treasuries gain before US data offers clues on growth outlook\n==========\n\nTreasuries gained as investors awaited data on the US labour market and remarks from a Federal Reserve official for more clarity on the path of monetary policy; Yields fell across the curve, with Fed rate-cut bets little changed on the day; Bond markets swung wildly in the past days as investors became more worried about the outlook for the US economy after a bleak jobs report last week; The market will be watching a US$25 billion auction of 30-year Treasuries at 1pm as 'the final test of investor appetite for US government bonds this week'; JPMorgan Chase \u0026 Co now sees a 35% chance that the US economy will tip into recession by the end of this year, up from 25% at the start of last month; Swaps are currently pricing 112 basis points (bps) of easing from the Fed this year, compared with about 65bps just over a week ago, with the chance of a half-point cut in September seen at 70%; For the ECB, expectations are for 72bps of additional easing this year, with a quarter-point cut fully priced in September, and for the BOE, traders expect another 48bps of cuts.\n\n\n\nhttps://theedgemalaysia.com/node/722172",
"sig": "89668672b8dbb79e5bb6feb1d885b78f4404d2069a144de046a4815d3391548baa509da4d96607c765dfb2add03bde2922241d915efb736bf2d27b837774ee52"
}