Investors cautious as Treasury yields back away from recent highs

  • Treasury yields holding steady on Friday
  • Longer-term notes backing away from recent highs
  • Consumer confidence report and home sales data awaited
  • Yield on 2-year Treasury rose slightly
  • Yield on 10-year Treasury slipped 1 basis point
  • Yield on 30-year Treasury fell 2 basis points
  • Weekly jobless claims at 16-month low
  • Data suggests investors may be expecting too much in terms of rate cuts
  • More data expected on consumer sentiment and existing home sales
  • Federal Reserve officials pushing back on speedy rate cuts
  • Markets pricing in no rate change on Jan. 31
  • Chance of rate cut by March decreased
  • Expectation of multiple rate cuts by December remains

Treasury yields remained steady on Friday as longer-term notes retreated from their recent highs. Investors are eagerly awaiting the release of a consumer confidence report and home sales data. The yield on the 2-year Treasury rose slightly, while the yield on the 10-year Treasury slipped 1 basis point. The yield on the 30-year Treasury fell 2 basis points. This comes after positive data earlier in the week, including stronger than expected retail sales and a drop in weekly jobless claims. However, some Federal Reserve officials have expressed caution about the possibility of rate cuts, pushing back on market expectations. The market is currently pricing in no rate change on Jan. 31, with a decreased chance of a rate cut by March. Despite this, traders still anticipate multiple rate cuts by December.

Public Companies: University of Michigan (), Federal Reserve ()
Private Companies:
Key People: Raphael Bostic (Atlanta Fed President), Austan Goolsbee (Chicago Fed President), Michael Barr (Fed Vice Chair for Supervision), Mary Daly (San Francisco Fed President)

Factuality Level: 7
Justification: The article provides information about the current yields on Treasury bonds and the factors driving the market. It includes specific data and quotes from Federal Reserve officials. However, it lacks context and analysis of the potential impact of these factors on the overall economy and financial markets.

Noise Level: 3
Justification: The article provides information on Treasury yields and market data, but it lacks depth and analysis. It mainly focuses on short-term fluctuations and mentions various Fed officials without providing much context or insight. The article does not provide actionable insights or new knowledge.

Financial Relevance: Yes
Financial Markets Impacted: Treasury yields

Presence of Extreme Event: No
Nature of Extreme Event: No
Impact Rating of the Extreme Event: No
Justification: The article discusses the movement of Treasury yields, which is relevant to financial markets.

Reported publicly: www.marketwatch.com