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Wall St Week Ahead Stumbling Treasury rally clouds bond market outlook for 2023

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U.S. government bond investors hurting after the biggest annual decline in the history of the asset class are riding out yet another selloff, as worries over persistent inflation cloud the prospects for an expected 2023 rebound.

and other signs of strength in the economy have implied the Fed may have room for further monetary tightening.

Investors are getting set for a rush of data next week, including minutes from the Fed’s latest meeting on Wednesday and the U.S. employment report for December on Friday. At the moment, the Treasury market “is more focused on inflation still than … recession," said Matthew Miskin, co-chief investment strategist at John Hancock Investment Management.

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