October doubts emerge over hawkish interest rate outlook
TLT•TLT•TLT•TLT•New York Fed President John Williams said the Fed may need more data before deciding on another rate hike, as consumer confidence and job openings weakened. Ten-year Treasury yields rose 82 basis points in the third quarter, their biggest quarterly jump in four years.
New York Fed President John Williams said further tightening may be needed by year-end but the Fed may need more data before acting. His comments challenged market pricing that treated another October rate hike as likely.
The 10-year Treasury yield climbed 82 basis points in the third quarter, the biggest quarterly increase in four years. US consumer confidence fell to its lowest level since 2014 this month, while August job openings declined more than forecast.
Investors were watching for August PCE inflation data, September ADP private payrolls and Micron Technology's earnings release on Wednesday. Chinese business surveys for September returned to expansion, supported by AI-related activity and government support.
