Wall Street is scuffling, as pressure from the bond market stays high due to worries about a too-hot US job market.
Wall Street is slipping, as pressure from the bond market stays high due to worries about a too-hot US job market.
But the worry now is that too strong of a job market could put upward pressure on inflation. That’s why the Fed has raised its main interest rate to the highest level since 2001, to intentionally slow the job market.“Even as the Fed has taken aggressive action to soften labor market conditions, businesses continue to hold on to workers,” said Rubeela Farooqi, chief US economist at High Frequency Economics.
Braizinha said the yield could drop back to 4 per cent to 4.25 per cent if upcoming reports show the economy weakening enough to undercut inflation but not so much that it causes a sharp recession. But he also said in a BofA Global Research report that it could top 5.50 per cent if economic data strengthen so much that it pushes the Fed to keep hiking rates.
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