Business News Asia
The yield on U.S. 10-year Treasury notes rose further today in anticipation of an interest rate hike by the Federal Reserve (Fed) in the near future. Strong employment figures Including forecasts that inflation figures could reach the highest level in 40 years this week are arguments for a first rate hike.
The yield on U.S. 10-year Treasury notes rose to 1.947%, while the yield on 30-year Treasury notes rose to 2.24%.
On Thursday, the U.S. Department of Labor will release the Consumer Price Index (CPI), a measure of inflation based on consumer price changes for the month of January.
Previously, the consumer price index had risen by 7.0% year-on-year in December, reaching its highest level since June 1982.
On Friday, the U.S. Labor Department reported that nonfarm payrolls rose by 467,000 in January.
Fed Chairman Jerome Powell had previously said he believed there was some room to raise interest rates without hurting the labor market.
CME Group’s FedWatch tool indicates that 35% of investors now see a high probability that the Fed will raise rates by 0.50% in March.