Austan Goolsbee News

Investing.com-- Gold prices moved little in Asian trade on Wednesday, but were nursing steep losses over the past two sessions as hawkish comments from Federal Reserve officials saw traders reconsider expectations for more interest rate hikes. 

By Amruta Khandekar and Shristi Achar A

Chicago Federal Reserve President Austan Goolsbee said Tuesday a soft landing is still on the table as the central bank seeks to combat inflation without hurting the economy significantly.

(Reuters) — U.S. stock index futures fell on Thursday as Treasury yields climbed to fresh 16-year highs, taking the sheen off stocks in premarket trading, while Tesla (NASDAQ:TSLA) dropped and Netflix (NASDAQ:NFLX) surged after their quarterly earnings.

(Reuters) — Chicago Fed president Austan Goolsbee said it is «undeniable» that the slowdown in U.S. inflation is a trend rather than a momentary blip, despite a recent string of economic data showing persistent pressure on some prices, the Financial Times reported on Monday.

As we look back upon another interesting week in the market, there are a few standout matters I would like to point out.

By Jamie McGeever

Treasury yields scaled a fresh 16-year peak on Tuesday, underpinning the dollar near a 10-month summit, as investors responded to the message from the Federal Reserve and other major central banks of rates staying elevated for longer. Asia-Pacific stock benchmarks sagged along with gold, while crude oil continued to drift back from 10-month highs. The yield on 10-year Treasury notes rose to 4.552%, a level not seen since October 2007. The U.S. dollar index — which measures the currency against six major developed market peers, including the euro and yen — ticked up 0.05% to 106.00, after reaching 106.10 overnight for the first time since Nov.

US Treasury yields were higher on Monday, with the benchmark 10-year Treasury yield building on three straight weeks of gains on expectations the U.S. Federal Reserve will keep interest rates at higher levels for longer than initially anticipated. Chicago Fed President Austan Goolsbee said on Monday that inflation remaining entrenched above the central bank's 2% target remains a bigger risk than tight Fed policy slowing the economy more than needed. The yield on 10-year Treasury notes was up 9 basis points to 4.525% after climbing to 4.533%, its highest since October 2007. «Essentially, the yield curve is going to start pricing in a recession, that is usually what happens when the yield curve steepens as much as it does,» said Tom di Galoma, co-head of global rates trading at BTIG in New York. «You had the big inversion move, we've been inverted for a good 15 to 18 months, and now the curve is steepening out, and that is a bit because the long-end has just kind of given way to higher rates.»Goldman Sachs last week pushed out its expectations for a Fed rate cut from the second quarter of next year to the fourth quarter of 2024. Expectations for another 25 basis point hike by the Fed at its November meeting have shrunk to 18.4%, down from 34.1% a week ago. The yield on the 30-year Treasury bond was up 12 basis points to 4.642%. Economic data was light on Monday but investors will get a look at several data points on the housing market this week, along with the final reading of second quarter gross domestic product and personal consumption expenditures. A closely watched part of the U.S.

By Howard Schneider

DATA AND FORECASTS Fresh Fed forecasts to be published at the close of this month's meeting will show how policymakers as a group expect inflation and unemployment to behave, and whether they like Logan think further tightening is likely to be needed. In June, the last time the Fed published economic projections, two-thirds of Fed policymakers indicated they thought rates would need to rise to above 5.5% by year's end in order to bring inflation down sustainably to the Fed's 2% goal. "It's still an open question as we go forward: Have we got sufficiently restrictive to achieve that," New York Fed President John Williams said on Thursday.

A look at the day ahead in U.S. and global markets from Mike Dolan

Gold prices firmed on Friday but were set for a weekly decline as the dollar and Treasury yields held firm with strong U.S. economic data raising concerns of the Federal Reserve keeping interest rates higher for longer.FUNDAMENTALS * Spot gold was up 0.2% at $1,922.87 per ounce, as of 0116 GMT, but set for a 0.8% weekly fall.

Investing.com-- Gold prices fell Tuesday as the U.S. currency and bond yields remained firm before a string of Federal Reserve speakers this week. 

Investing.com — The U.S. dollar edged lower in early European trade Monday, in thin holiday-affected volumes as traders continued to digest last week’s mixed U.S. jobs report and the possible impact on thinking at the Federal Reserve ahead of this month’s policy-setting meeting. 

Investing.com — After Friday’s jobs report cemented expectations that the Federal Reserve will keep interest rates on hold later this month, the economic calendar will be lighter in the coming holiday-shortened week. Stocks go into September after notching up strong weekly gains last week, while data out of China will likely add to concerns over the outlook for the world’s number two economy. The Reserve Bank of Australia will likely stand pat for a third straight meeting and supply worries look set to underpin oil prices.

Investing.com — U.S. stocks were rising ahead of a deluge of megacap earnings and the jobs report for July due out on Friday.

Investing.com — Is the macro picture for oil and gold changing? The softer-than-expected U.S. jobs numbers for June sent both crude and the yellow metal rallying on Friday as the dollar tumbled its most in a day percentage-wise since February. All eyes are now on the coming week’s reading on inflation, which, if tame, could unleash more risk appetite.

The latest batch of economic data shows positive developments on the inflation front, but the Federal Reserve's job is not over yet, Chicago Federal Reserve President Austan Goolsbee said.

Potential fault lines surfaced on Tuesday over whether the Federal Reserve should proceed with interest rate increases next month as it studies the fallout from banking-sector stresses triggered by the collapse of two midsize banks last month.

A Federal Reserve official said the central bank should be cautious about raising interest rates so that it can assess the fallout from banking-sector stresses triggered by the collapse of two midsize banks last month.