U.S. Treasury yields rose on Thursday as investors looked to economic data and comments from Federal Reserve officials for clues about what’s to come for the economy.
As of 4:16 a.m. ET, the 10-year Treasury note was up more than 3 basis points at 4.5412%. The two-year Treasury yield was little changed, rising less than 1 basis point to 4.9445% in the latest session.
Yields and prices move in opposite directions. 1 basis point equals 0.01%.
Ministry of Finance
ticker | company | yield | change |
---|---|---|---|
US1M | usa 1 month treasury | 5.418% | +0.029 |
US3M | US 3 Month Treasury | 5.469% | +0.036 |
US6M | US 6 Month Treasury | 5.539% | +0.043 |
US1Y | US 1 year government bond | 5.368% | +0.024 |
US2Y | US 2 year government bond | 4.944% | +0.008 |
US10Y | US 10 year government bond | 4.531% | +0.023 |
US30Y | US 30 year government bond | 4.682% | +0.026 |
The Fed kept interest rates unchanged at last week’s meeting, but the possibility of further rate hikes was not off the table, and Fed Chairman Jerome Powell said cuts were not yet on the table.
This left many investors wondering how long interest rates will remain high, whether a recession could hit the U.S. economy, or whether the Fed is expecting a soft landing. With few important economic indicators expected to be released this week, they will be hoping to find clues in comments from Fed speakers.
Federal Reserve Chairman Jerome Powell is among those expected to speak on Thursday.
Weekly new jobless claims numbers are also expected to be released on Thursday, which could provide another hint about the current state of the labor market and whether it is cooling as recent employment data suggest. This would indicate that the Fed’s monetary policy approach of raising interest rates is here to stay and is having the desired effect.