Jobs, inflation data may break US Treasury market out of narrow range - SABC News

Congressional testimony from Federal Reserve Chairman Jerome Powell could jolt US government bonds out of a narrow trading range.

US monthly inflation as measured by the personal consumption expenditures price index was unchanged in May, a report released on Friday, advancing the narrative of slowing inflation and resilient growth that has tamped down bond market gyrations and buoyed stocks in recent weeks.futures linked to the fed funds rate showed traders pricing in just under 50 basis points of rate cuts for the year.

A recent survey by BofA Global Research showed fund managers the most underweight bonds since November 2022. Some believe thatconsumer price data scheduled for July 11. Powell is scheduled to give his semiannual testimony on monetary policy on July 9 at the Senate Banking Committee,

Source: News Formal (newsformal.com)

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