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this US 10-year Treasury bond Gold rose on Thursday as investors looked forward to a speech by Federal Reserve Chairman Jerome Powell.
The 10-year U.S. Treasury yield rose about 10 basis points to 3.875%. 2-year Treasury bond It rose nearly 10 basis points to 4.02%.
Yields move in the opposite direction to prices. One basis point is equal to 0.01%.
Powell is scheduled to speak at the annual Jackson Hole symposium on Friday. His comments came after the central bank released minutes from its July policy meeting.
The minutes showed that a “vast majority” of Fed officials “believed that if data continued to move in line with expectations, it would likely be appropriate to ease policy at the next meeting.”
Market participants firmly expect the Fed to cut interest rates at its next meeting. Traders are currently pricing in about a 66% chance of a 25 basis point cut in September, while the chance of a 50 basis point cut is just over a one-third chance, according to market research firm Markets and Markets. CME Group’s FedWatch Tool.
Jobless claims data released Thursday came in slightly above the expectations of economists surveyed by Dow Jones. That could add to the growing view that the labor market isn’t as strong as once believed, a theory that got further vindication Wednesday. Nonfarm payrolls growth It was adjusted down by 818,000.
Thursday’s gains came after yields slide The day before.
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