The 10-year U.S. Treasury yield continued to rise on Tuesday.
The 10-year Treasury yield rose more than 4 basis points to 4.324%, its highest level since July 2024. Meanwhile, two-year U.S. Treasuries rose about 3 basis points to 4.131%.
Yields move inversely with prices. 1 basis point equals 0.01%.
The 10-year U.S. Treasury yield hit a three-month high of more than 4.25% on Wednesday, before ending the week slightly lower.
Although data was slow on Monday, traders are keeping an eye on new jobs and consumer confidence data this week ahead of the Nov. 5 U.S. presidential election.
Investors will also continue to digest a barrage of comments from the central bank following last week’s IMF meeting in Washington, D.C., with Federal Reserve policymakers currently in a blackout period. I am unable to comment before next week’s interest rate decision.
“If this week’s economic data (particularly the employment report) is strong, expectations for a rate cut in November will be lower, but the chances are tough and could lead to some volatility in the market. Goldilocks data is important to keep interest rates on track.”Expectations have been steadily lowered,” said Tom Essay, founder of Sevens Report Research.
