10 year yield futures investors closely watching 10 year

Investors closely watching 10 year yield futures see implied rates signaling potential retreat by mid-2024, as recent CPI moderation could slow Fed hike momentum. This shift may support growth stocks despite near-term yield curve steepening risk. The yield on the 2-year Treasury note fell to 3.56%. The 10-year yield was down to 4.1%. Yields fell sharply in the wake of the report as bond prices rose. "The Moody's report didn't highlight anything that every investor doesn't already know about the U.S. fiscal situation," said Ross Mayfield, investment analyst at Baird. "To me, it just kind of provided a little bit of cover for the market to take a breather here, but nothing that structurally changes our bullishness on where we think we'll be in the next six to 12 months." Macro data from manufacturing PMI is putting a ceiling on the 10 year yield futures advance. Equity market reaction shows broad-based buying in industrials, as traders envision easing yields supporting capital expenditure growth.