The yield on the 10-year US Treasury note rose above 4.1% to kick off a new week, the highest level since late July, as hopes for a swift decrease in interest rates fade.
US 10-year treasury note rises on Monday
Strong US economic indicators, including robust retail sales, alongside the growing possibility of a Donald Trump Presidential win and his proposed tariffs and tax policies, are driving yields upwards. Appearances from several Fed officials this week will be keenly watched for further insights on the Fed's plans.
Waiting PMIs
Additionally, Thursday's release of flash S&P Global PMIs will offer an updated snapshot of private sector performance in October. Market sentiment remains fixed on expectations of 25bps rate cuts at each of the Fed’s remaining meetings this year.
