Quick Take
Markets are now virtually certain of a notable 25 basis point rate hike, as recently released U.S. data indicates strong economic performance. The economy’s hot streak is confirmed by a significant surge in job growth, causing an upward shift in yields across the board.
Among the most impacted is the 10-year Treasury yield, which has crossed the symbolic 4% threshold for the first time in years. This surge indicates the market’s bullish outlook on the U.S. economy and expectations for tighter monetary policy.
Such a backdrop sets the stage for a critical turning point in U.S. monetary policy, with potentially wide-ranging implications for domestic and global markets. As we advance, the financial community will be closely watching for any additional signals from the Federal Reserve concerning their next steps in this new economic climate.
According to ZeroHedge:
- Initial Claims 248K, Exp. 245K, Last 239K
- Continuing Claims 1720K, Exp. 1737K, Last 1742K
- ADP Private payrolls 497K, Exp. 225K, Last 278K
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