Reserve demand and liquidity preference continue to underpin the U.S. Treasury market, with external investors favoring the front end of the curve, BNY's Geoff Yu says in a note. The immediate catalyst is this week's U.S. labor market data, the EMEA macro strategist says. "A resilient employment report would reinforce the current backdrop of anchored inflation expectations, supporting U.S. real yields, Treasury demand and, by extension, the dollar," he says. U.S. nonfarm payrolls data are due for release on Thursday. (emese.bartha@wsj.com)
Dow Jones Newswires
U.S. Treasury Market Remains Underpinned — Market Talk
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Reserve demand and liquidity preference continue to underpin the U.S. Treasury market, with external investors favoring the front end of the curve, BNY's Geoff Yu says in a note. The immediate catalyst is this week's U.S. labor market data, the EMEA macro strategist says. "A resilient employment re…