Treasury yields rose slightly following stronger-than-expected retail sales data and in anticipation of the Federal Reserve’s upcoming policy meeting.

The 10-year yield increased to 3.644%, while the 2-year yield climbed to 3.599%.

Retail sales for August unexpectedly rose by 0.1%, contrary to forecasts of a 0.2% decline.

Investors are focused on the Fed’s decision, with a rate cut likely, marking the first since March 2022. Market expectations lean towards a 50 basis point cut, CNBC has reported.

Key economic reports, including building permits and housing data, as well as decisions from the Bank of England and the Bank of Japan, are also on the horizon.

Written by B.C. Begley