The upcoming week is poised to revolve around the highly anticipated Jackson Hole symposium, where Federal Reserve Chair Jerome Powell is scheduled to deliver a speech on Friday.
Robust inflation and favorable labor market indicators have led to heightened expectations that U.S. interest rates may remain elevated for a more extended period than previously anticipated. This trend is bolstering the U.S. dollar‘s strength and drawing attention to Powell’s remarks, which are anticipated to influence the trajectory of Treasury yields.
Throughout the week, 10-year yields experienced a 14-basis point ascent, reaching a pinnacle of 4.328%, marking a mere fraction from a 15-year peak. Concurrently, 30-year yields surged by nearly 11 basis points, ascending to levels not witnessed in over a decade.
