Bond yields rose on Monday as traders eyed a week busy with U.S. jobs-related data.
What’s happeningWhat’s driving markets Developed economies’ sovereign bond yields were mostly higher amid hopes Beijing will act to stimulate the world’s second biggest economy.What’s happening What’s driving markets Developed economies’ sovereign bond yields were mostly higher amid hopes Beijing will act to stimulate the world’s second biggest economy.
Also underpinning yields — with German 10-year bunds TMBMKDE-10Y up 3.6 basis points to 2.527% — is news on Monday that eurozone core annual inflation remained elevated at 5.5% in July. After Friday’s data that showed easing inflationary pressures in the U.S., the main focus this week is likely to be the nonfarm payrolls report on Friday, news that will contribute to the Federal Reserve’s assessment of whether to continue tightening monetary policy.
The chances of a 25 basis point rate hike to a range of 5.50 to 5.75% at the subsequent meeting in November is priced at 29%.
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