FX.co ★ Treasury Yields Rise

The yield on the US 10-year Treasury note increased by 4 basis points to 4.22% on Friday, slightly reversing a 10 basis point decrease noted in the preceding session as market confidence revived. On Thursday, disappointing US labor figures sparked anxiety about economic stability, alongside a technology sector downturn and a sharp decline in cryptocurrency values, prompting a rush towards the safety of Treasuries. However, sentiment brightened on Friday following a recovery in tech stocks and preliminary figures indicating an unexpected rise in the University of Michigan consumer sentiment index to a six-month peak. Looking forward, investors will be closely monitoring the delayed US employment report and the upcoming Consumer Price Index release next week for insights into economic trends and the Federal Reserve's policy direction. Currently, markets are anticipating approximately 58 basis points of rate cuts by the Federal Reserve this year, up from about 50 basis points forecast earlier in the week.