US Treasury futures rise on flight to quality, cautious Fed speak
© Reuters. FILE PHOTO: A bronze seal for the Department of the Treasury is shown at the U.S. Treasury building in Washington, U.S., January 20, 2023. REUTERS/Kevin Lamarque/File Photo
The U.S. Treasury cash market was closed for a public holiday, but Treasury futures - contracts for the purchase and sale of bonds for future delivery - rose. Prices of 10-year Treasury futures went up to their highest in a week. Fed funds futures indicated that expectations of a November interest-rate increase fell to 12% on Monday, from 27% on Friday, CME Group ," said Michael Reynolds, vice president of investment strategy at Glenmede.
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