January 23, 2023: U.S. Treasury yields increased as investors awaited remarks from Federal Reserve speakers and weight the outlook for the U.S. economy.
The standard 10-year Treasury trading at 3.435% after increasing by three basis points. The yield on the 2-year Treasury was previously up by more than four basis points at 4.166%.
Yields and costs have an inverted relationship. One basis point equals 0.01%.
On Friday, investors looked ahead to a series of comments from Fed speakers anticipated as uncertainty more than the central bank’s following welfare rate determination continued off the back of mixing economic data.
Thursday’s initial jobless claims reflected resilience in the labour market as figures declined to their lowest level since late June. Tightness in the work market is one of the areas the Fed has been targeting in its fight against persistently high inflation.
Therefore, wholesale inflation figures released earlier in the week showed that prices slipped more than expected throughout December, prompting a few investors to believe that peak inflation has passed.
Investors consider whether the Fed will hike rates by 50 basis points or slow the rate increases to 25 basis points when its meeting ends on February 1.
They have been nearly following Fed speakers’ remarks and scanning them for hints concerning the central bank’s view.
On the data front, living home sales figures are due on Friday and will provide fresh insights into the housing sector.
We provide the insights on leaders who are responsible for taking their organization to new heights, all the while bringing together a group of talented individuals.
AspenTech, a Massachusetts-based company, plays a pivotal role in the oil and gas industry by leveraging cutting-edge technologies, including AI (artificial intelligence). Let’s delve into how AspenTech contributes to this dynamic sector
It’s no secret that oil and gas is a boom-and-bust industry. Production is currently up, projected to increase to 13.7 million barrels daily in 2024. But this won’t last forever. Whether production is up or down, the key to maximizing production, optimizing efficiency, and taking advantage of increased profits is innovation, digital transformation,and automation.For stakeholders looking to deliver safer, more efficient, and cheaper energy, innovation and automation must be a top priority. Those who fall behind in the race to innovate, ultimately, run the risk of losing market share.
Talking to Thomas Hundertmark, a senior partner in McKinsey’s Houston office, Darren Woods is chairman and CEO of ExxonMobil made some crucial points and also gave some insights on what the conglomerate was doing in order to save the climate.
When Darren Woods took the reigns of ExxonMobil six years ago, no one could have anticipated that the Kansas resident would soon face what Texas oil patch vets call “a whole pile of trouble.” Three years later, the oil market collapsed during the COVID-19 pandemic, which dealt the 140-year-old oil organization its first annual upset in four decades.
Today oil and gas producers face severe regulatory and public relations obstacles due to the concern with greenhouse gases and resource depletion. Calgary-based start-up, Advanced Upstream (“AU”), has been disrupting the oil and gas industry with simple and reliable innovative technologies. AU’s products help the oil and gas producers to enhance energy production while reducing the corresponding environmental impact. By decreasing personnel and time on site, and lowering overall HSE risks across the board, the clients can see a notable improvement in their ESG rating, contributing to their bottom line.
Jasmin Staiblin, Chief Executive Officer of ABB Switzerland, says, “Global energy consumption continues to grow and, if left unabated, will lead to an ever-greater risk of irreversibly changing our climate. To take advantage of more sustainable energy sources, the energy landscape is in a state of profound change to allow the integration of increasing amounts of renewable energy sources into the grid, to allow infrastructure to run more intelligently and efficiently, and to ensure the supply of energy is available at all times.
The activation of the Fallon Two Rock solar farm project has recently bolstered the Californian energy …