The yield on the policy-sensitive 2-year Treasury note ticks higher Monday as investors await a busy week of Federal Reserve speakers and another round of...
The yield on the policy-sensitive 2-year Treasury note ticked higher Monday as investors awaited this week’s economic data for further clues to how high the Federal Reserve will ultimately raise interest rates and how long they will keep them there.
What yields are doing Market drivers The Federal Reserve last week delivered a 75 basis point, or 0.75 percentage point, rise in the fed-funds rate and signaled the size of future rate moves might be smaller. Fed Chair Jerome Powell, however, emphasized that rates would need to move higher than Fed officials had previously expected and signaled they may remain elevated.
Barkin and Collins both spoke publicly on Friday. Barkin made the case for slowing the pace of rate hikes, but like Collins and Fed Chair Jerome Powell, signaled that it’s unclear just how high rates will have to go to squelch inflation. What analysts are saying Despite uncertainty about where the peak will be for the fed-funds rate, the 2-year Treasury yield fell 5 basis points on the day Friday and 15 basis points below its intraday peak of 4.80%, noted economists at UniCredit, in a note.
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