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Treasury rates rise ahead of inflation data




The 10-year US government bond yield reached 1.51% early on Friday, ahead of important inflation data coming later in the morning.

The yield on the benchmark index for 10-year government bonds added 2 basis points, and rose to 1.5145% at 03:50 ET. The yield on the 30-year government bond rose by 1 basis point to 1.8811%. Interest rates move in reverse to prices and 1 basis point is equal to 0.01%.

The Bureau of Labor Statistics will release the consumer price index for November at 8:30 ET on Friday.

Economists expect the index to have climbed 0.7% from last month, according to Dow Jones estimates. This will represent a 6.7% increase in inflation from year to year, which will be the highest reading for the overall CPI in almost 40 years.

On Thursday, the Ministry of Labor reported that 1[ads1]84,000 initial unemployment claims were submitted last week, well below the 211,000 forecast from economists and the lowest reading since 1969.

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Both of these sets of data are important, especially inflation, with the Federal Reserve holding a monetary policy meeting next week. The Fed is expected to announce that it will accelerate the downsizing of the asset purchase program.

As for other data due out on Friday, the University of Michigan is set to release its preliminary findings on consumer sentiment in December at 10 a.m. ET.

There are no auctions scheduled for Friday.

CNBC’s Jeff Cox contributed to this market report.



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