TREASURIES-10-year yield climbs. The benchmark 10-year U.S. Treasury yield hit a multi-year high on Tuesday, as yields continue to ascend ahead of a key inflation reading this week and expectations that the U.S. Federal Reserve will start tightening monetary policy.
The yield on the 10-year note reached 1.97%, its highest level since Nov 7, 2019, as investors await inflation data on Thursday. Expectations are for the January consumer price index to show a 0.5% increase after a 0.6% rise in the prior month, with the year-over-year reading expected to show a 7.3% climb.
The yield on 10-year Treasury notes was up 4 basis points to 1.956%.
Yields have been on an upward trajectory as the Fed has signaled it will begin to hike interest rates this year and wind down asset purchases to target rising inflation. Market participants are pricing in more than a 70% chance of a 25 basis point hike and a nearly 30% chance of a 50 basis point hike at the central bank’s mid-March meeting, according to CME’s FedWatch Tool.
Our post on Tradingview:
Read more: Here
wpDiscuz