Bond were little changed on Tuesday as investors a barrage of U.S. jobs data over the next few days.
What’s happeningWhat’s driving markets Investors will be keeping an eye out for a batch of labor-related data over the next few days. All through its tightening cycle that began in March 2022, the Federal Reserve has noted that a tight jobs market is contributing to inflationary pressures.What’s happening What’s driving markets Investors will be keeping an eye out for a batch of labor-related data over the next few days.
Markets are pricing in a 82% probability that the Fed will leave interest rates unchanged at a range of 5.25% to 5.50% after its next meeting on September 20, according to the CME FedWatch tool. The central bank is not expected to take its Fed funds rate target back down to around 5% until May 2024, according to 30-day Fed Funds futures.
What are analysts saying Jim Reid, strategist at Deutsche Bank, considered some of the latest Fedspeak, in the form of comments on Monday from Chicago Fed President Austan Goolsbee.
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