1535 ET - Treasury yields take a step back as investors fret about war-driven inflation while worrying about an economic slowdown. Fed minutes sound hawkish, supporting expectations of a potential hike down the road. Pantheon's Oliver Allen, however, writes that markets are underestimating the risk that rising energy and other prices will curb demand. That scenario, he says, makes a cut the most likely move after a prolonged hold. Weekly jobless claims are expected to hold relatively steady at 210,000, in a WSJ survey. Oil futures fall 6% and the WSJ Dollar Index is down 0.3%. The 10-year yield falls 0.1 percentage point to 4.569%. The two-year declines 0.085 p.p. to 4.037%. (paulo.trevisani@wsj.com; @ptrevisani)
(END) Dow Jones Newswires
May 20, 2026 15:35 ET (19:35 GMT)
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