10-Year Treasury Yield Falls to 4.668% as Markets Await PCE Data and Warsh Speech
Updated
Updated · CNBC · Aug 24
10-Year Treasury Yield Falls to 4.668% as Markets Await PCE Data and Warsh Speech
3 articles · Updated · CNBC · Aug 24
Summary
The 10-year Treasury yield slipped more than 3 basis points to 4.668% on Tuesday, with the 30-year at 5.201% and the 2-year at 4.221% as investors held back ahead of key U.S. data.
Wednesday’s July PCE inflation reading and second-quarter GDP estimate are the next tests for markets trying to gauge the U.S. economy and the Federal Reserve’s path.
Borrowing costs had already moved lower Monday after two senior Treasury officials said the department could tap its nearly $1 trillion General Account to fund expanded government bond buybacks, though they gave no size for that use.
Friday’s Jackson Hole keynote from Fed Chair Kevin Warsh is now the main policy focus, with Natixis warning his remarks may offer limited guidance after Jerome Powell’s departure and could revive pressure on long-dated yields.