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Tuesday, December 06, 2022

US bond yields fall after economic data and Australian central bank surprise

US bond yields fall after economic data and Australian central bank surprise

Lieutenant Chuck Mikolajczak

nuevaNew YorkOctober 4 – Yields on 10-year US Treasury bonds fell for the second day in a row on Tuesday after the Australian Central Bank slowed the pace of interest rate hikes and declined employment offers at United in August. State.

* The Reserve Bank of Australia raised rates by 25 basis points (bps) lower than expected, signaling they have already risen significantly but need to be tightened. Markets were expecting a 50bp hike.

* The 10-year bond yield fell 6.6 bps to 3.585%.

* Economic data released on Tuesday showed job opportunities in the United States fell to 10.053 million in August, lower than analysts’ forecast of 10.775 million and down from 11.17 million in July.

* The yield on the 30-year note fell by 3.5 basis points to 3.671%.

*Investors will see a slew of labor market data this week, especially Friday’s US Payrolls report. Investors will welcome signs of weakness from jobs data because it could reinforce expectations that the Federal Reserve will slow the pace of rate hikes.

* A closely watched portion of the yield curve, which measures the spread between returns on two-year and 10-year paper and is seen as a gauge of economic expectations, was at -47.7 basis points.

* Yields on two-year notes, which generally move in step with rate expectations, fell 4.5 basis points to 4.060%.

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