{"id":134744,"date":"2023-10-13T19:39:22","date_gmt":"2023-10-13T19:39:22","guid":{"rendered":"https:\/\/myfintale.com\/?p=134744"},"modified":"2023-10-13T19:39:22","modified_gmt":"2023-10-13T19:39:22","slug":"treasuries-move-back-to-the-upside-after-yesterdays-pullback","status":"publish","type":"post","link":"https:\/\/myfintale.com\/markets\/treasuries-move-back-to-the-upside-after-yesterdays-pullback\/","title":{"rendered":"Treasuries Move Back To The Upside After Yesterday's Pullback"},"content":{"rendered":"
Following the sharp pullback seen in the previous session, treasuries showed a strong move back to the upside during trading on Friday.<\/p>\n
Bond prices gave back some ground after an early advance but remained firmly positive. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, slumped 8.3 basis points to 4.629 percent.<\/p>\n
The early strength among treasuries came after the Labor Department released a report this morning showing only a slight uptick in U.S. import prices.<\/p>\n
The Labor Department said import prices crept up by 0.1 percent in September after climbing by an upwardly revised 0.6 percent in August.<\/p>\n
Economists had expected the pace of import price growth to match the 0.5 percent increase originally reported for the previous month.<\/p>\n
Meanwhile, the report said export prices advanced by 0.7 percent in September after jumping by a downwardly revised 1.1 percent in August.<\/p>\n
Export prices were expected to climb by 0.6 percent compared to the 1.3 percent surge originally reported for the previous month.<\/p>\n
However, treasuries pulled back off their highs after a report from the University of Michigan showed a surge in consumers’ near-term inflation expectations.<\/p>\n
The report showed year-ahead inflation expectations jumped to 3.8 percent in October from 3.2 percent in September, reaching the highest level since May.<\/p>\n
Long-run inflation expectations also rose to 3.0 percent in October from 2.8 percent in September but remained within the narrow 2.9-3.1 percent range seen for 25 of the last 27 months.<\/p>\n
Next week’s trading may be impacted by reaction to latest U.S. economic data, including reports on retail sales, industrial production, housing starts and existing home sales. <\/p>\n
Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Following the sharp pullback seen in the previous session, treasuries showed a strong move back to the upside during trading on Friday. Bond prices gave […]<\/a><\/p>\n<\/div>","protected":false},"author":3,"featured_media":134743,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"\n