Two-year yields US2YT=RR were last at 0.226%. Two-year note yields fell after the Treasury saw strong demand for a $60 billion sale of the notes, which sold at a high yield of 0.242%, around one basis point below where they had traded before the auction. 12, while holding above a six-month low of 1.127% reached earlier this month. The yields are in a range after falling from a one-month high of 1.379% on Aug. "We got so used to exuberant data and broad forecasts for continued growth and demand that was going to push inflation higher, and that seems to be slowly leaking out around the world over the last three or four weeks," said Vogel.īenchmark 10-year yields US10YT=RR rose three and a half basis points to 1.290%. Optimism over the economic recovery has faded since July as economic data has missed expectations, however, and consumer sentiment earlier this month dropped to its lowest in a decade. Minutes from the Fed's July meeting released on Wednesday showed that the bulk of the central bank's policy-setting committee expect the Fed will start trimming its bond-buying program later this year. “The market has convinced itself that the taper is sooner rather than later… if Powell doesn’t repeat that message I think you’re going to see traders confused,” said Jim Vogel, an interest rate strategist at FHN Financial in Memphis, Tennessee.
Still, investors will be watching to see if Powell indicates that a reduction in bond purchases is imminent, and whether he expresses any new concerns about economic growth due to the rise in COVID-19 Delta variant cases. 27 will take place virtually and not in person due to the spread of COVID-19 in the county, which has reduced expectations that any major announcement will be made at the event. Powell is due to speak at the Fed’s annual economic symposium at Jackson Hole, Wyoming. Treasury yields rose on Tuesday as investors waited on comments on Friday by Federal Reserve Chair Jerome Powell for any new indications on when the central bank is likely to begin paring bond purchases. Institutional Distribution Intelligence.Non-Traditional Exchanges & New Markets.Directors’ and Officers’ Questionnaires.
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