All Eyes on the Jobs Report as Bond Markets Finally Catch a Break For the first time in six sessions, the US bond market caught a break. Prices rose and yields fell across maturities, from the 30-year bond to the 2-year note. The most spirited rally appeared at the front end of the yield curve, where Federal Reserve policy expectations weigh heaviest. The relief arrived a day before the monthly US jobs report, and crude oil offered no help. That last detail matters. Lower oil prices have typically been the route to softer rate hike bets since the US-Iran war began, because energy costs feed inflation expectations. This time, West Texas Intermediate (WTI) crude rose, holding inside its recent range between roughly $88 and $95 per barrel.
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