Fewer-than-expected Americans filed new claims for unemployment benefits last week, the Department of Labor said, though the decline was likely exaggerated by difficulties adjusting the data for seasonal patterns.
By contrast the equity market, driven by tumbling headline inflation numbers, expects the Fed to end its rate-hiking campaign at a two-day policy meeting that concludes Wednesday, July 26.on Tuesday, July 18, pushed Treasury yields up on the idea that the Fed will keep rates higher for longer, said Ben Jeffery, a strategist on the US rates team at BMO Capital Markets in New York.
Colin Graham, head of multi-asset strategies at Robeco in London, said once rates peak, the only reason the Fed will cut them is if something bad happens.
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