Analyzing the November jobs report released Friday morning, Commonwealth Financial Network CIO Brad McMillan spotlights the 10-year Treasury yield (^TNX) as a key metric to watch. He explains how yields have climbed on assumptions of imminent interest rate cuts by the Fed and expected economic slowdowns. However, stronger-than-expected hiring data challenges that narrative. McMillan believes the report signals economic acceleration rather than slowdown. Consequently, McMillan expects Treasury yields will face upward pressure after pricing in future economic data prints. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
This past November looked like a typical December — low volatility and a lot of gains. This December, however, with a few big economic moments, might be a little different this year.
In an interview with Yahoo Finance's Akiko Fujita, Goldman Sachs Asset Management Head of Multi-Sector Fixed Income Investing Lindsay Rosner explores fixed income mixes in portfolios while laying out her forecast for bond yields in 2024. Fed Chair Jerome Powell addressed interest rate cut expectations at Spelman College Friday morning. Rosner in turn tells Yahoo Finance that the Fed "has to be careful." Despite investor hopes for easing, Rosner notes Powell's comments about July 2023 being the last hike were data-driven, but uncertainties lie ahead. While Rosner acknowledges fixed income backdrops seem promising entering 2024, she cautions realities have shifted from 2023 optimism. Still, with current interest rate sensitivity, she believes the bond market is benefiting more than not. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.