Treasury yields continued to ease as the latest economic data showing an unexpected fall in consumer confidence and a surprise drop in job openings pushed up bets that the Fed is likely to stand pat on rates in September.fell to 106.1 in August from 114 in July, confounding economists’ forecast for a reading of 116. report, a measure of labor demand, showed job openings in July fell to about 8.8 million, missing expectations of 9.46M.
Following the weaker-than-expected data, suggesting that the Fed’s rate hikes are beginning to work, bets on a Fed pause in September jumped to nearly 90% from about 80% last week, according to Investing.com’sBig tech was in rally mode as falling Treasury yields, which make higher-valued growth stocks including tech and consumer stocks more attractive, pushed the broader market higher.
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