(Bloomberg) — Bond yields remained lower after the Treasury increased its quarterly debt sale — but suggested no more boosts are coming. Tech giants weighed on stock futures as earnings failed to live up to high expectations around artificial intelligence.
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Just hours away from the Fed decision, a relief from further boosts to auction sizes for longer-term securities is seen helping support demand for Treasuries. Bonds also gained as a broad gauge of US labor costs cooled by more than forecast and data showed US companies added fewer jobs than forecast at the start of the year.
“The market rallied in the kneejerk, presumably as a function of a passing event risk along with the fact that this will be the final round of increases,” said Ben Jeffery at BMO Capital Markets.
Treasury 10-year yields declined two basis points to 4.01%. The dollar was little changed. Big tech weighed on futures after Microsoft…
