U.S. Treasury yields rose on Monday (23rd), hovering near multi-year highs as investors continued to assess the prospects for longer-term interest rate hikes by the Federal Reserve.
6:00 a.m. ET, indicator 10-Year Treasury Bond Yieldrose 8.8 basis points to 5.012%; while the 30-year Treasury bond yield rose 8.2 basis points to 5.169%. Yield is inversely proportional to price.
10-Year Treasury Bond YieldLast Thursday (19th) it rose above 5% for the first time since July 2007 as the market digested the comments of Federal Reserve Chairman Jerome Powell. Ball said the Fed remains “resolutely” committed to keeping inflation down to 2%, and achieving that goal may require lower economic growth.
Fed funds futures are pricing in a 98% chance that the Fed will keep key interest rates unchanged at its current target range of 5.25-5.5% at its next monetary policy meeting.
There will be an auction of $75 billion in 3-month Treasury bills and $68 billion in 6-month Treasury bills on Monday.
2023-10-23 10:23:15
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