Treasury yields rise prior to GDP renewal

The US Treasury’s 10-year yield exceeded 1.55% early Thursday as it fell from the recent highs of the previous session prior to the third-quarter GDP renewal.

Benchmark yield 10-year government bond Added 2 basis points and rose to 1.5536% at 4am EST.Yield 30-year government bond It increased by 1 basis point to 1.9527%. Yield is inversely proportional to price, and one basis point is equivalent to 0.01%.

10-year interest rates fell below the 1.6% mark in Wednesday’s trading session to 1.52%.

Treasury yields are fluctuating as investors continue to be concerned about the risk of “stagflation,” which is rising inflation but slowing economic growth.

Dan Lacalle, Chief Economist at Tressis Gestion, said on CNBC’s “Squaw box europe“It was clear that the risk of stagflation was rising on Thursday, but it wasn’t clear yet,” because expectations for growth are relatively stable in 2022. “

Nonetheless, Mr Lacare said the bond market is beginning to react to the risks of stagflation.

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10-year yields began to recover on Thursday morning. The Department of Commerce plans to release annual GDP growth data for the third quarter 8:30 am Eastern Standard Time. Economists polled by Dow Jones expect economic growth to be only 2.8% in the previous quarter.

The Ministry of Labor will also announce the number of unemployed claims filed during the week ending October 23, 8:30 am EST.

Pending home sales data for September will be released at 10 am Eastern Standard Time.

The auction will take place on Thursday with a $ 60 billion four-week invoice, a $ 25 billion eight-week invoice, and a $ 62 billion seven-year bond.

— — CNBC’s YunLi contributed to this market report.

Treasury yields rise prior to GDP renewal

Source link Treasury yields rise prior to GDP renewal

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