U.S. Treasury yields were mixed early on Thursday, as investors continued to digest the Fed's latest policy decision.
Ron Temple, co-head of multi-asset and head of U.S. equities at Lazard Asset Management, said on Wednesday that with the economy "firing on all cylinders," the Fed was right to reduce its asset purchases.
However, he warned that the Fed should be "judicious" about when and how quickly it raises interest rates. Temple explained that the labor market was still "far from fully recovered" and inflation was "below target nearly 90% of the last decade." He said the Fed should, therefore, "avoid snatching defeat from the jaws of victory in reaction to one year of uncomfortably elevated inflation."
In terms of data due out on Thursday, the number of jobless claims filed last week is due out at 8:30 a.m. ET.Markit's flash purchasing managers' index for December is then expected to come out at 9:45 a.m. ET. Auctions are due to be held on Thursday for $30 billion of 4-week bills and $25 billion of 8-week bills.
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