{"id":51243,"date":"2023-08-21T15:43:25","date_gmt":"2023-08-21T19:43:25","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/long-term-treasury-yields-on-track-for-fresh-multi-year-highs\/"},"modified":"2023-08-21T15:43:27","modified_gmt":"2023-08-21T19:43:27","slug":"long-term-treasury-yields-on-track-for-fresh-multi-year-highs","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=51243","title":{"rendered":"Long-term Treasury yields on track for fresh multi-year highs"},"content":{"rendered":"<div id=\"js-article__body\" itemprop=\"articleBody\" data-sbid=\"WP-MKTW-0002421024\" role=\"document\">\n<p>Ten- and 30-year Treasury yields were on their way toward setting more multi-year highs Monday morning, as traders await Federal Reserve Chairman Jerome Powell\u2019s Jackson Hole speech at the end of the week.<\/p>\n<h2>What\u2019s happening<\/h2>\n<ul class=\"articleList\">\n<li>\n      The yield on the 2-year Treasury<br \/>\n        BX:TMUBMUSD02Y<br \/>\n       rose 4.5 basis points to 4.979% from 4.934% on Friday. Yields move in the opposite direction to prices.<\/p>\n<\/li>\n<li>\n      The yield on the 10-year Treasury<br \/>\n        BX:TMUBMUSD10Y<br \/>\n       jumped 6.9 basis points to 4.320% from 4.251% Friday afternoon. The rate was on its way to its highest closing level since Nov. 7, 2007, when it closed at 4.328%.<\/p>\n<\/li>\n<li>\n      The yield on the 30-year Treasury<br \/>\n        BX:TMUBMUSD30Y<br \/>\n       rose 6.8 basis points to 4.447% from 4.379% late Friday. The 30-year rate was on track to close at its highest level since April 27, 2011, when it reached 4.462%.<\/p>\n<\/li>\n<\/ul>\n<h2>What\u2019s driving markets<\/h2>\n<p>The trend of higher-for-longer yields remained intact on Monday, despite the fact that traders still see the U.S. central bank approaching the end of its rate-hike campaign and reaching its so-called terminal level for interest rates.<\/p>\n<div class=\"paywall\">\n<p>Investors will be eager to hear how Federal Reserve officials\u2019 thinking may be shifting, when Powell gives a speech on Friday at the annual Jackson Hole symposium.<\/p>\n<p>Until then, markets are pricing in an 88.5% probability that the Fed will leave interest rates unchanged at a range of 5.25%-5.5% on Sept. 20, according to the CME FedWatch Tool. The chance of a 25-basis-point rate hike to a range of 5.5%-5.75% at the subsequent meeting in November is priced at 35.5%.  <\/p>\n<p>There is no major economic data released on Monday.<\/p>\n<h2>What  analysts are saying<\/h2>\n<p>\u201cIt\u2019s a mid-August Monday and all that implies \u2014 specifically, a limited willingness to fight the backup in yields despite investors\u2019 widely held assumption that terminal has already arrived,\u201d said BMO Capital Markets rates strategists Ian Lyngen and Ben Jeffery.<\/p>\n<p>\u201cIt\u2019s notable that the consensus from pundits for Friday\u2019s Jackson Hole conference is that the Fed-speak will fall into the category of a nonevent,\u201d they wrote in a note. \u201cThis isn\u2019t to suggest that pockets of investors aren\u2019t positioning for something more dramatic, even if it is a low-probability event that Powell will use the forum for anything more than reinforcing the messaging that it\u2019s too soon to claim victory on the inflation front and the real economy appears to be absorbing higher policy rates with ease. For now.\u201d<\/p>\n<\/p><\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.marketwatch.com\/story\/treasury-yields-up-near-multi-year-highs-as-powell-speech-eyed-later-in-week-cebbd70?mod=markets\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ten- and 30-year Treasury yields were on their way toward setting more multi-year highs Monday morning, as traders await Federal Reserve Chairman Jerome Powell\u2019s Jackson Hole speech at the end of the week. What\u2019s happening The yield on the 2-year Treasury BX:TMUBMUSD02Y rose 4.5 basis points to 4.979% from 4.934% on Friday. Yields move in [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1898,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-51243","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-markets","tag-featured","post_format-post-format-gallery"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Long-term Treasury yields on track for fresh multi-year highs | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Ten- and 30-year Treasury yields were on their way toward setting more multi-year highs Monday morning, as traders await Federal Reserve Chairman Jerome\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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