Yields on U.S. debt rose ahead of a key Federal Reserve meeting. Busy week also sees Bank of England meeting and nonfarm payrolls data
What’s happeningWhat’s driving markets Benchmark bond yields were rising from two-week lows ahead of the Federal Reserve’s interest rate decision on Wednesday.
Yields had moved lower in recent sessions on hopes the latest economic data may allow the central bank to soon start slowing the pace of monetary tightening. Jim Reid, strategist at Deutsche Bank, suggested the bond market might be vulnerable to some renewed selling if hopes for a less aggressive Fed, which helped spark the latest rally, are dashed.
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