{"id":130752,"date":"2022-12-30T21:36:58","date_gmt":"2022-12-30T21:36:58","guid":{"rendered":"https:\/\/fin2me.com\/?p=130752"},"modified":"2022-12-30T21:36:58","modified_gmt":"2022-12-30T21:36:58","slug":"treasuries-move-back-to-the-downside-following-yesterdays-rebound","status":"publish","type":"post","link":"https:\/\/fin2me.com\/markets\/treasuries-move-back-to-the-downside-following-yesterdays-rebound\/","title":{"rendered":"Treasuries Move Back To The Downside Following Yesterday’s Rebound"},"content":{"rendered":"
Following the rebound seen in the previous sessions, treasuries moved back to the downside during trading on Friday.<\/p>\n
Bond prices staged a recovery attempt in afternoon trading but pulled back going into the close. As a result, the yield on the benchmark ten-year note, which moves opposite of its price, climbed 4.4 basis points to 3.879 percent.<\/p>\n
The pullback by treasuries came as traders continued to express concerns about the outlook for interest rates headed into the New Year.<\/p>\n
The Fed’s next monetary policy meeting is a month away, but the central bank is widely expected to continue raising rates in an effort to combat inflation.<\/p>\n
In U.S. economic news, a report released by MNI Indicators showed a bigger than expected slowdown in the pace of contraction in Chicago-area business<\/span> activity in the month of December.<\/p>\n MNI Indicators said its Chicago business barometer climbed to 44.9 in December from 37.2 in November, although a reading below 50 still indicates a contraction. Economists had expected the index to rise to 41.2.<\/p>\n The bigger than expected rebound came after the Chicago business barometer fell to its lowest reading since the 2008\/09 global financial crisis, excluding the 2020 pandemic shock.<\/p>\n Following another long holiday weekend, the Labor Department’s closely watched monthly jobs report is likely to be in focus next week.<\/p>\n Traders are also likely to keep an eye on reports on manufacturing and service sector activity as well as the minutes of the latest Federal Reserve meeting. <\/p>\n