{"id":5989,"date":"2023-10-27T13:51:25","date_gmt":"2023-10-27T13:51:25","guid":{"rendered":"https:\/\/infundpros.com\/markets\/treasury-yields-turn-mixed-after-pce-inflation-data\/"},"modified":"2023-10-27T13:51:26","modified_gmt":"2023-10-27T13:51:26","slug":"treasury-yields-turn-mixed-after-pce-inflation-data","status":"publish","type":"post","link":"https:\/\/infundpros.com\/?p=5989","title":{"rendered":"Treasury yields turn mixed after PCE inflation data"},"content":{"rendered":"<div id=\"js-article__body\" itemprop=\"articleBody\" data-sbid=\"WP-MKTW-0002664565\" role=\"document\">\n<p>Treasury yields held mostly steady on Friday morning as investors assessed September inflation data that offered a mix of both good and bad news. <\/p>\n<div class=\"paywall\">\n<h2>What\u2019s happening<\/h2>\n<ul class=\"articleList\">\n<li>\n      The yield on the 2-year Treasury<br \/>\n        BX:TMUBMUSD02Y<br \/>\n       was 5.029%, down 1 basis points from 5.039% on Thursday. <\/p>\n<\/li>\n<li>\n      The yield on the 10-year Treasury<br \/>\n        BX:TMUBMUSD10Y<br \/>\n       was 4.854%, up 1.1 basis points 4.843% on Thursday afternoon.<\/p>\n<\/li>\n<li>\n      The yield on the 30-year Treasury<br \/>\n        BX:TMUBMUSD30Y<br \/>\n       was 5.023%, up 3.7 basis points from 4.986% late Thursday.<\/p>\n<\/li>\n<\/ul>\n<h2>What\u2019s driving markets<\/h2>\n<p>Data released on Friday showed that inflation rose faster than expected, based on the Fed\u2019s preferred gauge. \u00a0The so-called PCE price index rose 0.4% for the second month in a row in September, spurred in part by higher oil prices. The index has risen 3.4% over the past year, unchanged from the prior month.<\/p>\n<p>Over the past year, however, core inflation, which excludes food and energy, fell to 3.7%, the lowest level since June 2021, from 3.8% previously, providing investors and traders with at least a kernel of hope that price rises may continue to ease. The core rate came in at 0.3% for the month, matching the forecast of economists polled by The Wall Street Journal. <\/p>\n<p>Yields had tumbled on Thursday, despite a surprisingly strong 4.9% annual pace of growth for the U.S. economy in the third quarter. While the Fed is mostly expected to take no action next Wednesday, investors will be focused on hints of any possibility of raising rates again in December or January.<\/p>\n<p>Read: Pressure still on Fed as cost of goods and services rises more than expected<\/p>\n<h2>What analysts are saying<\/h2>\n<p>Friday\u2019s PCE inflation report \u201cprovided confirmation that the Federal Reserve\u2019s monetary policy is continuing to reduce inflation over time, albeit slowly,\u201d said Brian Pietrangelo, senior vice president and managing director of investment strategy for Key Private Bank, citing the core year-over-year rate.<\/p>\n<p>\u201cThat said, in our view, the economy maintains decent momentum but is showing potential signs of slowing for 2024,\u201d Pietrangelo wrote in an email. \u201cWe believe the Federal Reserve is highly likely to pause interest rate hikes next week given the directional slowing of PCE inflation to wait for additional data, including the Employment Situation next Friday, to consider for the December meeting.\u201d<\/p>\n<\/p><\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.marketwatch.com\/story\/bond-yields-edge-higher-ahead-of-pce-inflation-data-96dd7df0?mod=markets\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Treasury yields held mostly steady on Friday morning as investors assessed September inflation data that offered a mix of both good and&#8230;<\/p>\n","protected":false},"author":1,"featured_media":1200,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[25],"tags":[],"class_list":{"0":"post-5989","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-markets"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Treasury yields turn mixed after PCE inflation data | inFundPros<\/title>\n<meta name=\"description\" content=\"Treasury yields held mostly steady on Friday morning as investors assessed September inflation data that offered a mix of both good and bad news. 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