US bonds: Hardly any movement after high yields the previous day

NEW YORK (dpa-AFX) – Not much happened on the US bond market in late trading on Thursday. After initially rising prices, they then gave up most of their profits. The futures contract for ten-year Treasuries (T-Note Future) was recently slightly up 0.02 percent at 127.70 points. Ten-year government bonds yielded 1.83 percent after hitting a two-year high of 1.9 percent on Wednesday.

The monetary policy of the US central bank, which is expected to take significant countermeasures in view of the high level of inflation, is decisive for the strong increase in yields. A first interest rate hike could take place in March, it is currently forecast. A total of four hikes totaling one percentage point are currently priced in on the markets for this year.

Meanwhile, new economic data was inconsistent. While the industrial indicator Philly Fed Index rose significantly, the situation on the job market clouded over. The initial applications for unemployment benefits increased surprisingly and significantly. However, this does not change the fact that the job market has improved significantly since the first Corona wave slumped. This is a crucial factor for the Fed’s monetary policy./bek/he

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