US Bonds Post Worst 10-Year Return in 223 Years; Bitcoin Tested by Rising Yields
US government bonds suffered their worst 10-year returns in over two centuries, losing roughly 2% a year. Bitcoin faces pressure as yields rise.
NY Fed survey finds stable inflation expectations but highest fear of rising unemployment since April 2020.
The New York Federal Reserve released its latest monthly survey of consumer expectations.
The report offered little positive news, but the Federal Reserve's primary focus is on inflation expectations, which do not justify a rate hike this month. Financial markets currently imply a 57% likelihood of a rate increase.
Unemployment expectations have deteriorated further.
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US government bonds suffered their worst 10-year returns in over two centuries, losing roughly 2% a year. Bitcoin faces pressure as yields rise.
The US employment trends index improved to 108.53 in August, up from 107.71, as components showed positive average contributions.
BoE officials express concern over energy price rises and external risks with weak domestic economy.
Bond yields rise with 10-year Treasury at 4.80%, stocks fall, and gold faces headwinds as markets await CPI and central bank decisions.