10-Year Treasury Yield Rebounds from 20-Month Low

May 30th, 2019

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Category: Miscellaneous

(CNBC)Long-term U.S. government debt yields retraced some of their recent declines on Thursday as investors paused their pivot toward safer assets like Treasurys.

At around 7:12 a.m. ET, the yield on the benchmark 10-year Treasury note, which moves inversely to price, was higher at around 2.264%, off a 20-month low of 2.21% hit on Wednesday. A portion of the yield curve remained inverted as the yield on the 3-month Treasury bill held steady at 2.36%.

There’s a strong focus on the bond market after long-term government debt yields fell further below rates on short-term notes and bills during Wednesday’s session. The phenomenon, described as yield inversion, is often interpreted as a recession indicator. Investors are wondering whether the bond market is sending warnings about economic growth in the U.S. and globally.

Meanwhile, on the data front, there will be initial jobless claims, revised GDP numbers, international trade in goods and pending home sales numbers due throughout the day.

Elsewhere, Fed Vice Chair Richard Clarida will speak at the Economic Club of New York at 12 p.m. ET.

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