Inflation eases, Fed hold expected, but bond yields rise
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Friday August 11th 2023
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US inflation has eased, by almost any measure you care to use, and jobless claims are heading the direction the Fed would like to see as well. All that is pointing to heightened expectations that they will hold at their next meeting. Yet bond yields are higher today. Why is that? NAB\\u2019s Ken Crompton says yields started rising after a weak 30-year Treasury auction a few hours after the CPI release, which shows there are some nerves about absorbing long duration government debt. There\\u2019s also discussion about further weakening of the Yen, UK\\u2019s GDP today and further economic indicators for the US later on today/tonight.
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