2024-07-30 23:00:00 +0300
Recession-Fueled Bond Rebound Faces Stern Tests Before Next FOMC
Bloomberg
By Liz Mc CormickBond bulls, while savoring a stellar rebound in returns fueled by growing recession fears, are braced for potential setbacks.
With most Treasury yields back below 3% and the Federal Reserve expected to raise rates to at least that level by the end of the year to throttle inflation, bond investors need ongoing confirmation that Fed rate hikes are biting the economy. A bigger-than-expected drop in a key manufacturing gauge on July 1 ignited this month’s rally. The next reading is on Monday.
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