Bond Traders Await Powell Update, Slate of US Treasury Auctions
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Traders in the US Treasury market are focusing on the upcoming Federal Reserve meeting to assess inflation outlook amid elevated oil prices. The Fed is expected to maintain interest rates, but traders anticipate a potential cut by year-end, with a 40% chance reflected in swaps markets. Current Chair's press conference will be closely watched for updates on his future plans. Benchmark yields have remained stable, and economic data releases this week, including inflation readings, will be significant as employment and retail sales show resilience despite rising oil prices.
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