Treasury yields fall ahead of economic growth numbers

U.S. Treasury yields fell on Thursday morning as markets await a primary estimate of fourth-quarter economic growth.

At round 2:45 a.m. ET, the yield on the benchmark 10-year Treasury note dropped 2.3 foundation factors to 4.1549%, whereas the yield on the 30-year Treasury bond slid 2.7 foundation factors to 4.3851%.

Yields transfer inversely to costs.

The U.S. Department of Commerce’s preliminary estimate of fourth-quarter gross home product growth, a primary have a look at how the U.S. economic system broadly carried out on the finish of the yr, is ready for launch at 8:30 a.m. ET. December’s sturdy items orders are due on the identical time.

The GDP determine is expected to show that the U.S. economy expanded at a 2% seasonally adjusted annualized pace, down from 4.9% within the earlier quarter and the bottom studying since a 0.6% decline within the second quarter of 2022.

Wall Street might be attempting to establish what which means for American economic growth in 2024, whereas the Federal Reserve might be taking the determine under consideration because it considers its subsequent financial coverage transfer.

A second major data point is due Friday within the kind of December’s private consumption expenditures worth index, the Fed’s most popular inflation gauge.

Auctions might be held Thursday for $90 billion every of 4-week and 8-week Treasury payments, together with $41 billion of 7-year notes.

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *