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The 10-year Treasury yield was hovering around 4.94% this week, showing a net increase despite Friday’s slight dip. Market participants have been closely monitoring Treasury yields as they can impact borrowing costs and thus influence investors’ risk appetite.
In addition to Treasury yields, investors are also focused on the Federal Reserve’s upcoming policy meeting in early November. The market anticipates that the Fed will maintain its benchmark interest rate within the current range of 5.25% to 5.5%. This expectation is set against a backdrop of inflation concerns and economic recovery from the pandemic.
Adding to the anticipation is Cleveland Fed President Loretta Mester’s scheduled speech around midday Friday. Market participants will be keenly following her remarks for any insights into the central bank’s current thinking on monetary policy and economic conditions.
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