What’s Happening
- The yield on the 2-year Treasury BX:TMUBMUSD02Y was 4.46%, showing an increase of 0.9 basis points. Yields move inversely to prices.
- The yield on the 10-year Treasury BX:TMUBMUSD10Y was 4.17%, rising by 1.1 basis points.
- The yield on the 30-year Treasury BX:TMUBMUSD30Y was 4.37%, experiencing a decrease of 1.1 basis points.
What’s Driving Markets
The Labor Department is set to update the seasonal adjustments to the consumer price index, which has piqued the interest of traders and analysts.
According to economists at Piper Sandler, led by Jake Oubina, the spotlight will be on recent data to confirm the significance of the disinflation as we exit 2023. They remind us that the annual revision had a substantial impact on the market last year, with the cadence of inflation in year-end 2022 being revised upwards.
Additionally, Lorie Logan, the Dallas Federal Reserve president, will be delivering a speech. Logan has previously outlined a plan to reduce the Fed’s balance sheet tightening program.
