SHORT ANSWER
The core idea
Bond yields can move before official data because markets continuously price forecasts, surveys, positioning and new information about the economy.
THE MECHANISM
What is happening underneath
By the time a data release arrives, part of the expected outcome may already be embedded in yields.
MARKET INTERPRETATION
How investors should read it
The largest reaction often occurs when the actual release differs materially from the consensus expectation.
BONDSTATS TAKEAWAY
The same market move can carry different information depending on which maturity, issuer and risk premium is changing. Read the question together with the underlying concepts rather than treating one price move as a universal signal.
RELATED CONCEPTS
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