Stocks are set to start the week cautiously as investors brace for bond-market volatility and assess the economic hit from the rapidly spreading Covid omicron variant.
Treasury yields climbed across the board last week in a selloff sparked by Federal Reserve minutes signaling a willingness to start hiking rates as soon as March. The yield on the U.S. 10-year note touched the highest level in nearly two years. Cash Treasuries won’t trade in Asia because of the Japan holiday.
U.S. inflation data this week will be keenly watched as concerns grow the Fed is behind the curve in tackling elevated price pressures. U.S. employers added fewer staff than expected in December, but wages rose more than forecast, boosting the Fed’s case to tighten liquidity.
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