Bond-Market Debate Over Fed’s Path in 2026 Is About to Heat Up

The big debate in the US Treasury market over the extent of Federal Reserve interest-rate cuts ahead is about to heat up with a string of pivotal economic data releases.

This week will go a long way to filling in the data void created by the US government shutdown, with the delayed announcements of monthly employment and inflation figures, and then early January brings more key jobs data. The reports will help answer the overarching question entering 2026 of whether the Fed is close to being done easing, after three straight cuts, or if it has to move more ...