The policy-sensitive 2-year Treasury yield slips from its highest level since March as buyers reemerge for government debt to kick off the week.
The policy-sensitive 2-year Treasury yield slipped from its highest level since March Monday morning, as buyers for government debt re-emerged to kick off the week.
What’s happening Last week, the two-year yield rose by 12 basis points, while the 10-year and 30-year declined by 1.2 basis points and 8.6 basis points, respectively, according to Dow Jones Markets Data. What’s driving markets Economists continued to weigh in on Federal Reserve Chairman Jerome Powell’s Jackson Hole speech from Friday, saying he set a high bar for additional interest-rate hikes even though he also said policy makers are prepared to hike if appropriate.Buyers for U.S. government debt re-emerged on Monday, after the policy-sensitive 2-year rate ended Friday’s session at 5.054% or its highest level since March 8.
There’s no economic data set for release on Monday, the start of a busy week that includes the July PCE price index on Thursday and Friday’s nonfarm payrolls data for August.
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