Linea Mercati Interview 11/22/23
November 24, 2023Wall St ends mixed in truncated Black Friday trading
November 24, 2023Treasury yields recover some of their recent losses in the post-Thanksgiving shortened trade. The bonds selloff suggest “the recent rally may have been somewhat overdone,” Spartan’s Peter Cardillo says in a note. Next week brings 3Q GDP estimate and PCE data, including the Fed’s preferred inflation gauge. Data pointing to an economic slowdown have recently triggered bond rallies that weakened yields, as markets bet on an approaching Fed pivot into interest rate cuts. The 10-year yield is at 4.478%, compared to Tuesday’s settle of 4.417%, and the two-year climbs to 4.946% from 4.881%. ([email protected]; @ptrevisani)Treasury yields recover some of their recent losses in the post-Thanksgiving shortened trading day on Friday. The bonds selloff suggest “the recent rally may have been somewhat overdone,” Spartan’s Peter Cardillo says in a note. Next week brings 3Q GDP estimate and PCE data, including the Fed’s preferred inflation gauge. Data pointing to an economic slowdown have recently triggered bond rallies that weakened yields, as markets bet on an approaching Fed pivot into interest rate cuts. The 10-year yield is at 4.478%, compared to Tuesday’s settle of 4.417%, and the two-year climbs to 4.946% from 4.881%.