Energy-Driven Inflation, Fiscal Risks Push U.S. Treasury Yields Higher
Dow Jones
36 mins ago
0930 GMT - Middle East tensions sustain energy-driven inflation risks, while concerns over the U.S. fiscal outlook linger, exerting an upward pressure on U.S. Treasury yields, Exness' Dat Tong says in a note. The 10-year and 30-year U.S. Treasury yields rose to new 24-year highs of 5.342% and 5.683%, respectively, earlier Thursday. Wednesday's milder-than-expected PCE inflation data, the Federal Reserve's preferred gauge, provided only short relief to the bond selloff, which resumed as investors also absorbed an upward revision in second-quarter GDP data. Later Thursday, ISM manufacturing data and weekly jobless claims provide the next test for the dollar and U.S. Treasurys, the financial markets strategist says, while nonfarm payrolls data are due on Friday.
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