Treasury yields continue rising as market awaits Fed conference

Treasury yields continue rising as market awaits Fed conference

Aug. 22:

The bond market’s tone was unchanged this morning ahead of the Federal Reserve’s symposium in Jackson Hole later this week. The futures market has now priced in a 47% chance of a rate hike at the Nov. 1 Federal Open Market Committee meeting, but it also sees the Fed reversing that hike by the end of January. Both numbers should be taken with a grain of salt.

This morning, the Dow traded up and Treasury yields were up slightly relative to Monday morning.

Economic calendar

Tuesday, Aug. 22

  • Existing Home Sales

Wednesday, Aug. 23

  • S&P Global Flash US Composite PMI
  • New Home Sales

Thursday, Aug. 24

  • Advance Durable Goods
  • Weekly Initial Jobless Claims

Friday, Aug. 25

  • University of Michigan Consumer Sentiment
  • Fed Chair Jerome Powell is scheduled to speak at 7:05 a.m. PST at the central bank’s annual Jackson Hole Economic Symposium. The topic for the symposium, held Aug. 24 to 26, is “Structural Shifts in the Global Economy.”

Treasury calendar

Wednesday, Aug. 23

  • $16 billion auction of 20-year Treasury bonds
  • $24 billion auction of two-year Floating Rate Notes

Thursday, Aug. 24

  • $8 billion auction of 30-year Treasury Inflation-Protected Securities

By Mike Kraft, Executive Director and Commercial Real Estate Treasurer for Commercial Banking
Your time is valuable. Process rent payments faster and easier online with Story by J.P. Morgan.
GET STARTED

Chase, J.P. Morgan, JPMorgan Chase, and Story by J.P. Morgan are marketing names for certain businesses of JPMorgan Chase & Co. and its affiliates and subsidiaries worldwide. “JPMorgan”, “JPMorgan Chase”, the JPMorgan Chase logo, “Story”, and “Story by J.P. Morgan” are trademarks of JPMorgan Chase Bank, N.A. JPMorgan Chase Bank, N.A. is a wholly-owned subsidiary of JPMorgan Chase & Co. Visit jpmorgan.com/cb-disclaimer for additional disclosures and disclaimers related to this content. Changes to Interbank Offered Rates (IBORs) and other benchmark rates, such as the London Interbank Offered Rate (LIBOR) are, or may in the future become, subject to ongoing international, national and other regulatory guidance, reform and proposals for reform. For more information, please consult jpmorgan.com/IBOR.

The information and materials contained herein are for informational and educational purposes only and not for business, legal, accounting, tax or any other advice. We make no representation or warranties or give any guaranties with respect to the content and hereby disclaim any and all liability for your action or inaction. Always consult your own attorney, tax advisor, accountant or other appropriate professionals.

JPMorgan Chase, 10 S. Dearborn, Mail Code: IL1-0723, Commercial Banking Marketing, Chicago, IL 60603-3403, United States.

ⓒ 2023 JPMorgan Chase & Co. All rights reserved. JPMorgan Chase Bank, N.A. Member FDIC. Deposits held in non-U.S. branches are not FDIC insured.