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Market Update: US Treasuries Retreat Despite Hot Inflation
The yield on the benchmark 10-year Treasury note extended losses to a fresh 3-month low of 1.43% on Friday, despite recent figures pointing to hot inflation in the US. Investors apparently acknowledged that inflationary pressures are transitory, in line with Fed’s comments, while the labour market recovery is far from complete. Initial jobless claims came in at a higher-than-expected 376K. Meanwhile, Treasury auctions held during the week showed strong demand for the 10-year and 3-year notes and mixed demand for the 30-year bond. Attention now turns to the Fed monetary policy meeting next week for any clues on the tapering timeline. source: U.S. Department of the Treasury [/s2If]
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