economy

February 2, 2026

Treasury yields tick higher on strong U.S. data; traders weigh Warsh Fed pick

U.S. Treasury yields were higher Monday as market watchers continued to weigh President Donald Trump naming Kevin Warsh as his pick for the next Fed chair.

Treasury yields tick higher on strong U.S. data; traders weigh Warsh Fed pick

TL;DR

  • U.S. Treasury yields moved higher on Monday.
  • The ISM manufacturing index for January came in at 52.6, exceeding economists' expectations and indicating factory activity expansion.
  • This is the first expansion reading after 26 months of contraction.
  • Chief economist Chris Rupkey stated the data is the best sign yet that the economy is advancing at a strong pace.
  • Investors are awaiting the ADP employment survey and the delayed Bureau of Labor Statistics' jobs report.
  • Yields held steady on Friday after President Trump nominated Kevin Warsh to succeed Jerome Powell as Fed chair.
  • The Fed indicated an improving economic outlook by removing a warning about downside risks to employment, suggesting fewer interest rate reductions this year.

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