Boost in Job Openings Supports Hawkish Fed Approach
Dow Jones01:17
1217 ET - The job openings report for September came in hotter than expected with a four-month high, BMO analysts say in a research note. That provides a solid read on labor demand that reinforces the Fed's hawkish bias and supports the base-case expectation for a quarter-point rate increase at the FOMC's December meeting, the analysts say. The Treasury market has sold off to session lows since the data came out, they say. The 10-year yield has floated around 5% as an equilibrium, and will probably continue to do so as the market digests the midterm election results, among other headlines, the analysts say.
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