The U.S. 10-year Treasury rose on Thursday as dovish minutes from the latest Fed meeting bolstered expectations of an interest rate cut next month.
rose on Thursday as dovish minutes from the latest Federal Reserve meeting and a large revision lower in preliminary payrolls data bolstered expectations of an interest rate cut next month.2-year TreasuryMarket participants are firmly pricing in an interest rate cut at the U.S. central bank's next meeting.
Attention now turns to comments made at the annual Jackson Hole symposium that kicks off on Thursday. Federal Reserve Chair Jerome Powell is scheduled to speak on Friday. On the data front, the latest reading of weekly initial jobless claims will be released at around 8:30 a.m. ET on Thursday. A flash reading of manufacturing purchasing managers' index for August and services PMI for August, existing home sales data for July and the Kansas City Fed's survey for August will all follow slightly later in the session.
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