Inflation worries cause 10-year U.S. Treasury yields to soar

Read Time:1 Minute, 33 Second


Due to concerns about continued inflation, the 10-year US Treasury bond yield broke through 1.54% on Tuesday morning, the highest since June.

Benchmark rate of return 10-year treasury bond At 4 am Eastern Time, it rose 5 basis points to 1.5409%.rate of return 30-year Treasury Bond Increased by 6 basis points, soaring to 2.0625%. The rate of return is inversely proportional to the price, and 1 basis point is equal to 0.01%.

Federal Reserve Chairman Jerome Powell Ready comments Will be released on Tuesday, warning that inflation may continue to rise for longer than expected.

Powell will address the Senate Banking Committee at 10 am Eastern Time on Tuesday. In his prepared speech, he stated that economic growth “continues to strengthen”, but faces pressure from price increases caused by supply chain bottlenecks and other factors.

Powell said: “Inflation rate is rising, and it may remain in this state in the next few months, and then it will ease.”

Last week, the Fed stated that it may soon begin to scale back its asset purchase program.

Federal Reserve Governor Michel Bowman will speak at the 2021 Community Banking Industry Conference at the 21st Century Research and Policy Conference at 1:40 pm Eastern Time on Tuesday.

In terms of data, the July Standard & Poor’s/Kies-Schiller House Price Index is expected to be released at 9 am Eastern Time.

The September CB Consumer Confidence Index will be released at 10 am Eastern Time.

In addition, investors will continue to monitor the progress of Washington’s $1 trillion infrastructure bill. Lawmakers must act on funding plans before the government faces a shutdown on Friday.

An auction of seven-year notes worth US$62 billion is scheduled for Tuesday.

Jeff Cox and Maggie Fitzgerald of CNBC contributed to this market report.

Happy
Happy
0 %
Sad
Sad
0 %
Excited
Excited
0 %
Sleepy
Sleepy
0 %
Angry
Angry
0 %
Surprise
Surprise
0 %