Treasury yields rise Monday as investors await this week's Federal Reserve meeting.
Treasury yields rose Monday as investors prepared for a Federal Reserve meeting that’s expected to deliver an outsize rate increase and announce the beginning of the unwind of the central bank’s balance sheet.
What are yields doing? What’s driving the market? Fed policy makers will conclude a two-day meeting on Wednesday afternoon. Investors widely expect the central bank to raise the fed funds rate by 50 basis points, or half a percentage point, rather than deliver the typical quarter-point move. Investors have also been judging whether further outsize rate moves are likely in coming policy meetings.The Fed is also expected to announce the wind-down of its balance sheet.
The Institute for Supply Managment’s April manufacturing index is due at 10 a.m. Economists surveyed by The Wall Street Journal expect it to rise to 57.8% from 57.1 in March. A reading of more than 50% signals an expansion in activity. March construction spending data is also set for release at 10 a.m.
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