The Marriner S. Eccles Federal Reserve building in Washington, DC. Photographer: Stefani Reynolds/Bloomberg

Traders now have no doubt: The Federal Reserve will start raising interest rates once again next week. The implied interest rate on the swap contract linked to the Fed’s July 26 rate decision rose to 5.33 percent—a quarter point higher than the 5.08 percent effective level of the policy rate most days since May 4.

Treasury yields across maturities were down between 3 and 7 basis points (bps), with the policy-sensitive two-year rate hovering around 4.7 percent. Yields slumped after data showed U.S. retail sales rose by less than forecast, before quickly moving away from session lows as the complete report, along with revisions, showed still-robust consumer spending.

Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.

Your access to unlimited Treasury & Risk content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical Treasury & Risk information including in-depth analysis of treasury and finance best practices, case studies with corporate innovators, informative newsletters, educational webcasts and videos, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM websites including PropertyCasualty360.com and Law.com.

Already have an account?


NOT FOR REPRINT

© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

 

Treasury & Risk

Join Treasury & Risk

Don’t miss crucial treasury and finance news along with in-depth analysis and insights you need to make informed treasury decisions. Join Treasury & Risk now!

  • Free unlimited access to Treasury & Risk including case studies with corporate innovators, informative newsletters, educational webcasts, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM publications including PropertyCasualty360.com and Law.com.

Already have an account? Sign In Now
Join Treasury & Risk

Copyright © 2023 ALM Global, LLC. All Rights Reserved.