Treasury yields inched higher as investors awaited economic data that could provide clues about how the U.S. economy is faring as headwinds continue.
Yields and prices have an inverted relationship and one basis point equals 0.01%.A series of key economic reports are expected on Thursday, which investors will be scanning for clues about the state of and outlook for the U.S. economy. Many are concerned about potential pressures from high inflation and elevated interest rates weighing on the economy.
Gross domestic product data for the last quarter of 2022 is expected, as are durable goods orders and home sales reports for December. Weekly initial jobless claims data is also due. Investors will also be closely following further earnings reports, paying especially close attention to corporations' future guidance, which could hint at their expectations for the economy. American Airlines and Intel are among those reporting Thursday.
Fears of a recession have grown louder in recent months as many investors believe the pace of the Federal Reserve's interest rate hikes could lead to the economy contracting. The Fed is next meeting on Jan. 31 and Feb. 1. Markets are expecting the central bank to further increase interest rates by 25 or 50 basis points as its battle with persistent inflation continues.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
DeFi Protocol Sushi Passes Two Governance Votes to Strengthen TreasuryThe separate proposals passed in the past two days by SushiSwap community voters are part of a broader plan to ensure the project’s longevity. By shauryamalwa.
Read more »
Treasury yields dip as investors look to economic data, earnings releasesU.S. Treasury yields declined on Tuesday as investors awaited economic data and earnings reports that could provide hints about the state of the U.S. economy.
Read more »
Treasury takes another 'extraordinary' step on debt limitWASHINGTON (AP) — U.S. Treasury Secretary Janet Yellen sent a letter Tuesday to congressional leaders saying she's suspending the reinvestment of some federal bonds in a government workers' savings plan — an additional “extraordinary' measure to buy time for President Joe Biden and Congress to raise the nation's debt limit .
Read more »
Treasury Secretary Janet Yellen Takes Measures to Ease Debt-Ceiling WoesThe Treasury Department will stop fully investing in a government investment vehicle for federal employees as the U.S. bumps up against its debt ceiling, Janet Yellen said
Read more »
U.S. Treasury activates another maneuver to avoid breaching debt limitU.S. Treasury Secretary Janet Yellen activated another extraordinary cash management measure on Tuesday to avoid breaching the federal debt limit, suspending daily reinvestments in a large government retirement fund that holds Treasury debt, the department said.
Read more »
UK gov't is hiring a central bank digital currency lead for Treasury teamPosting to LinkedIn, HM Treasury called for a team lead for its Payments and Fintech Team of roughly 20 people focused on exploring a “potential digital pound”.
Read more »