The U.S. 10-year Treasury fell slightly on Friday as investors awaited remarks from Federal Reserve Chair Jerome Powell at the annual Jackson Hole symposium.
fell slightly on Friday as investors awaited remarks from Federal Reserve Chair Jerome Powell at the annual Jackson Hole symposium.
At 4:08 a.m. ET, the yield on the 10-year Treasury was down under a basis point to 3.85%, and the yield on theYields and prices move in opposite directions. One basis point equals 0.01%.at Jackson Hole on Friday, with market participants bracing themselves for fresh insights on the U.S. central bank's interest rate cut plans.
Earlier in the week, minutes from the Fed's July meeting showed that the "vast majority" of central bank officials "observed that, if the data continued to come in about as expected, it would likely be appropriate to ease policy at the next meeting." Market participants are firmly pricing in an interest rate cut at the Fed's next meeting. Traders are currently pricing in a roughly 76% chance of a 25-basis-point rate cut in September, with almost one-quarter pricing in a 50-basis-point rate cut, according to theOn the data front, new home sales figures for July will be released at around 10 a.m. ET on Friday.
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