Treasury yields were rising Thursday morning after the European Central Bank was seen as being more hawkish than expected in its policy decision at its monthly meeting, and investors awaited U.S. inflation data.
What are yields doing?
-
The 10-year Treasury yields
TMUBMUSD10Y,
1.959%
rose 3 basis point to 1.976%, from 1.946% at 3 p.m. Eastern Time on Wednesday. -
The 2-year Treasury note
TMUBMUSD02Y,
1.702%
rate was at 1.706%, up 3 basis points from 1.676% a day ago. Wednesday’s finish for the short-term note marked the highest since Nov. 7, 2019. -
The 30-year Treasury bond yield
TMUBMUSD30Y,
2.325%
rose 4 basis points to 2.344%. - The spread between the 2-year and 10-year notes, known as the yield curve, stands at 26 basis points. The shape of the yield curve is viewed as an indicator of possible recession.
What’s driving the market?
Repeating Wednesday’s action, investors sold bonds, which lifted yields as investors juggled concerns about the global economic impact of Russia’s invasion of Ukraine and rising U.S. inflation.
