• “Despite the Fed looking to temper market expectations for 2024, the inflation data has been cooperative, the consumer has slowed, and global dynamics around election uncertainty has contributed to better buying” of Treasurys, AmeriVet’s Gregory Faranello says.

(Dow Jones) — 1545 ET – Demand for U.S. government debt recovers momentum and Treasury yields decline ahead of a U.S. holiday and following disappointing retail sales. When markets reopen Thursday, May house starts growth is expected to slow to 1.5% from April’s 5.7%, in a Wall Street Journal survey.
Weekly jobless claims are forecast to fall to 235,000 from 242,000. “Despite the Fed looking to temper market expectations for 2024, the inflation data has
been cooperative, the consumer has slowed, and global dynamics around election uncertainty has contributed to better buying” of Treasurys, AmeriVet’s Gregory Faranello says. The 10-year yield falls 0.061 percentage point to 4.216% and the two-year loses 0.058 p.p. to 4.701%.