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Search resuls for: "Herbert Lash Gertrude Chavez-Dreyfuss"


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Durable goodsThe report dented some of the hawkishness built into U.S. interest rates, though they are expected to remain higher for longer, analysts said. The National Association of Realtors (NAR) said its Pending Home Sales Index, based on signed contracts, jumped 8.1% last month, the biggest increase since June 2020. Traders now expect the Fed to raise interest rates to about 5.4% in July, according to pricing in futures markets . At the beginning of February, they envisaged rates rising to a peak of just 4.9%. The dollar index , which measures the currency against six major peers, fell 0.513% and is on track to snap a four-month losing streak.
read moreThe yield on the benchmark 10-year Treasury hit 4.338% earlier, the highest since November 2007. The two-year U.S. Treasury yield , which typically reflects interest rate expectations, surged to 4.639%, the highest since August 2007. We'll continue to see more calls for a slowdown (in Fed policy) as we feel more and more pain in risk markets," he added. The gap between yields on two- and 10-year Treasury notes , was at -27.5 basis points, that's the steepest since mid-September. The 10-year TIPS breakeven rate was last at 2.525%, reflecting the average inflation the market has priced in for the next decade.
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