By Gertrude Chavez-Dreyfuss
U.S. Treasuries firmed for a second straight session on Tuesday, pushing their yields lower and with not much catalyst moving the market for now, as investors continued to position for lower yields amid the prospect of multiple interest rate cuts by the Federal Reserve this year and next.
Ahead of the Federal Open Market Committee meeting next week, Fed officials are currently in a blackout period in which they are temporarily restricted from making public comments or speeches about monetary policy.
Bond investors will be looking to Friday’s release of the Consumer Price Index (CPI) for September for clues on whether or not inflation remains under control. The consensus forecast for core CPI was 0.3%, unchanged from August.
The CPI data release has been delayed along with other economic indicators with the U.S. government’s temporary shutdown.
“The Fed is on track to ease probably more than what people…
