Key events this week:

1. Monday — BOJ Monetary Policy Meeting Minutes

Any signal of further rate hikes could narrow the interest rate gap between the US and Japan and impact global bond markets

2. Wednesday — PCE Inflation

The Fed’s preferred inflation gauge will show whether consumer spending remains strong and inflationary pressures are still elevated

3. Wednesday — US GDP

Stronger growth could give the Fed more room to keep interest rates higher for longer

4. Thursday — ISM Manufacturing PMI

A stronger reading would signal improving manufacturing activity and firmer economic growth

5. Friday — Nonfarm Payrolls

A strong jobs report would show that the labor market remains resilient and support the case for keeping rates higher

Together these releases could shape expectations for the Fed’s next rate decision and the next major move in US Treasury yields

Which report do you think will have the biggest
impact on yields this week?
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