Business

10-year Treasury yield climbs above 3%

The 10-year Treasury yield climbed above 3% for the first time in a month as investors looked ahead to the Jackson Hole economic symposium.

The yield on the benchmark

gained about 4 basis points to 3.031% at 4:02 p.m. ET, climbing above 3% level for the first time since July 21.

Meanwhile, the yield on the

advanced 1 basis point to 3.235%. Yields move inversely to prices, and a basis point is equal to 0.01%.

The yield on the short-term 2-year Treasury note rose roughly 6 basis points to trade at about 3.32%.
Those moves come ahead of what could be a volatile week of trading. Investors are anticipating U.S. Federal Reserve Chairman Jerome Powell’s latest comments on inflation at the central bank’s annual Jackson Hole economic symposium.

Yields fell and then rose at the end of last week as markets mulled over the Fed’s released July meeting minutes. The Fed indicated that it would continue hiking rates until inflation slows down significantly, although the central bank could soon decrease its pace of tightening.

Author: cnbc.com

OAdmiN

Recent Posts

EFCC Chair Raises Alarm on Rampant Fraud in Nigeria’s Electricity Sector

  Ola Olukoyede, Chairman of the Economic and Financial Crimes Commission (EFCC), has raised concerns…

8 hours ago

Customs Surpasses Revenue Target with N5.7 tn Collection

  The Nigeria Customs Service (NCS) has announced a record revenue collection of N5.7 trillion…

9 hours ago

Half of Shortlisted Directors Fail Federal Permanent Secretary Exam

  Nineteen out of the thirty-eight directors who were shortlisted to fill permanent secretary vacancies…

18 hours ago

Nigerian Man Wanted for Child’s Murder Added to U.S. Marshals’ “15 Most Wanted” List, $25,000 Reward Offered

  A Nigerian man, Olalekan Abimbola Olawusi, 48, is now among the U.S. Marshals Service’s…

18 hours ago

Nigeria’s Foreign Debt Servicing Hits $3.58bn in Nine Months, Pressuring Budgets

  The Nigerian government spent a staggering $3.58 billion on servicing foreign debt within the…

18 hours ago

Oyo: Oseni to Launch Mobile Clinic Initiative to Revitalize Rural Healthcare

A member representing Ibarapa East/Ido federal constituency of Oyo State at the House of Representatives,…

3 days ago