Markets await U.S. GDP and inflation reports

  • Treasury yields nudge higher ahead of U.S. GDP and inflation data
  • Yield on 2-year Treasury adds 3 basis points
  • Yield on 10-year Treasury rises 2.6 basis points
  • Yield on 30-year Treasury climbs 2.9 basis points
  • Benchmark 10-year Treasury yield stabilizes around 4.1%
  • Little top drawer economic data this week
  • Markets pricing in no rate change after next Fed meeting
  • Chances of rate cut in March decrease
  • U.S. Treasury to auction $60 billion of 2-year notes
  • Bank of Japan keeps policy unchanged
  • Potentially impactful data later in the week: Q4 U.S. GDP report and PCE inflation gauge

Bond yields nudged higher ahead of the release of important economic data later in the week. The yield on the 2-year Treasury added 3 basis points, while the yield on the 10-year Treasury rose 2.6 basis points. The benchmark 10-year Treasury yield seems to have stabilized around 4.1% as traders wait for fresh news that may challenge the current consensus on the economy’s trajectory and Federal Reserve policy. Little top drawer economic data has been released this week, with the highlight being the Richmond Fed index. Markets are pricing in no rate change after the next Fed meeting, with the chances of a rate cut in March decreasing. The U.S. Treasury will auction $60 billion of 2-year notes. The Bank of Japan kept its policy unchanged. Analysts are looking forward to the release of the Q4 U.S. GDP report and the PCE inflation gauge later in the week.

Public Companies: Deutsche Bank (DB)
Private Companies: undefined
Key People: Jim Reid (strategist at Deutsche Bank), Alex Pelle (U.S. economist at Mizuho)

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Factuality Level: 7
Justification: The article provides information about bond yields and market movements, including specific numbers and percentages. It also mentions upcoming economic data and analyst opinions. However, the article lacks in-depth analysis and context, and it does not provide a balanced view of the topic.

Noise Level: 4
Justification: The article provides information on bond yields and market movements, but it lacks depth and analysis. It briefly mentions potential impactful data later in the week, but does not provide any insights or solutions. The article also contains some repetitive information and filler content.

Financial Relevance: Yes
Financial Markets Impacted: Bond markets

Presence of Extreme Event: No
Nature of Extreme Event: No
Impact Rating of the Extreme Event: No
Justification: The article discusses the movement of bond yields, which is relevant to financial markets. However, there is no mention of any extreme events or their impact.

Reported publicly: www.marketwatch.com