Jobs, inflation data may break the US Treasury market out of narrow range
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Yields on benchmark US 10-year Treasuries have been bouncing between about 4.20% and 4.35% since mid-June. The upcoming US employment data, followed by inflation numbers and Federal Reserve Chairman Jerome Powell's testimony, could change the outlook. The market is waiting for the other shoe to drop. A recent survey showed fund managers the most underweight bonds since November 2022. Some investors believe inflation is unlikely to return to pre-pandemic levels and the US economy is likely to show a higher level of underlying strength, limiting the longer-term downside for bond yields.

#UsTreasuryMarket #Jobs #InflationData #FederalReserve #BondYields

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