October 25, 2022: -On Monday, Treasury yields decreased as markets awaited October’s flash creating and services PMI (purchasing managers’ index) data.
The 10-year Treasury yield was previously down by multiple basis points to 4.183%. The benchmark Treasury note reached a 14-year high and traded at 4.337%.
The policy-sensitive 2-year Treasury yield was down by less than a basis point at 4.487%.
Yields and prices go opposite directions, and one basis point equals 0.01%.
On Friday, the Wall Street Journal stated that some Federal Reserve officials were concerned with the speed of interest rate hikes. The yield on the 2-year and 10-year Treasury notes refused following the report after trading at levels in the previous seen in 2007 and 2008, respectively.
The critics say that markets frets over the Federal Reserve hiking prices too fast as they fear this policy could drag the U.S. economy into a recession.
On Monday, investors give close attention to the release of flash manufacturing and services PMI data for October. PMI data reflects whether an economy is growing or contracting and how much.
In September, service sector activity slowed while the manufacturing sector grew.
Traders also look to earnings reports and forecasts to assess whether businesses expect a financial slowdown. Tech heavyweights, including Apple, Alphabet, and Microsoft, will release third-quarter updates this week.
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A definite ‘NO’ to the question if struggling families had child care asked by a group of committed volunteers in the San Fernando Valley in 1974, urged the volunteers to look for a way to support families struggling to find quality child care, development, and education services for their families. That year, the San Fernando Valley Child Care Consortium and the Mayor’s Child Care and Junior Task Force proposed the first child care resource center in the San Fernando Valley. Doris McLain was elected chairperson as Mayor Bradley accepted the proposal and gave the newly founded Child Care Resource Center (CCRC) space in Van Nuys City Hall Center. CCRC began 45 years to help working moms find child care.
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