8 Economic Indicators To Watch This Week For Clues On Fed's Next Move
Portfolio Pulse from Piero Cingari
The Federal Reserve's next move on interest rates remains uncertain, with Chair Jerome Powell's recent speech carrying both hawkish and dovish undertones. Money markets currently price in an 80% probability of the Fed keeping rates steady in September, but a 61% chance of a rate hike in November. The yield on the 2-year Treasury note, tracked by the U.S. Treasury Note ETF (NYSE:UTWO), surged above 5%. Key economic indicators to watch this week include the jobs report, inflation data, Q2 GDP 2nd estimate, and other data such as consumer confidence, mortgage rates, and manufacturing PMI.
August 28, 2023 | 7:06 pm
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NEUTRAL IMPACT
The yield on the 2-year Treasury note, which is tracked by the U.S. Treasury Note ETF (NYSE:UTWO), surged above 5%. This indicates that the ETF could be impacted by the Fed's decisions on interest rates.
The U.S. Treasury Note ETF (UTWO) tracks the yield on the 2-year Treasury note. Therefore, any changes in the yield, which are influenced by the Fed's decisions on interest rates, could impact the ETF. However, the direction of the impact is uncertain as it depends on various factors including market expectations and the actual decisions made by the Fed.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80