2023-12-12 10:25:57
U.S. Treasury yields fell on Tuesday (12th) as investors awaited key inflation data ahead of the Federal Reserve’s final meeting of the year.
5:07 a.m. ET,10-Year Treasury Bond YieldIt fell 4 basis points to 4.199%. The 2-year Treasury yield fell 4 basis points to 4.687%.
Yields and prices move in opposite directions. 1 basis point equals 0.01 percentage point.
The U.S. Consumer Price Index (CPI) for November will be released on Tuesday, which will give markets and investors a new understanding of whether raising interest rates will slow economic growth and alleviate inflation.
Dow JonesEconomists surveyed expected overall CPI to be unchanged from last month and up 3.1% from 12 months ago. That represents a slight slowdown from October’s 3.2% annual rate.
The so-called core CPI, which excludes food and energy prices, is expected to increase by 0.3% monthly in November and 4.0% annually.
Meanwhile, the Federal Reserve’s last monetary policy meeting of 2023 will begin on Tuesday. The latest interest rate decision and guidance on the economic and monetary policy outlook will be announced on Wednesday (13th).
Investors widely expect the Fed to keep interest rates on hold and are looking for clues on when policymakers will begin considering a rate cut and how the economy will fare while rates remain high. Including whether a recession is expected next year or whether the Fed can achieve a soft landing.
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