Treasury Yields Steady With 10-Year at 5.244% as Oil Holds Above $91
Updated
Updated · CNBC · Oct 9
Treasury Yields Steady With 10-Year at 5.244% as Oil Holds Above $91
1 articles · Updated · CNBC · Oct 9
Summary
The 10-year Treasury yield edged up more than 1 basis point to 5.244% on Friday, while the 30-year slipped less than 1 basis point to 5.60% after a volatile week.
Those moves followed Thursday's pullback and came after both the 10-year and 30-year hit their highest levels since 2002 earlier in the week.
$22 billion in 30-year notes sold Thursday drew solid demand, with indirect bidders taking more than 72% versus a 10-auction average of 68%; the Treasury had sold $39 billion in 10-year notes a day earlier.
Fed Governor Christopher Waller said more rate hikes may still be needed to curb inflation above the Fed's 2% target, though not necessarily immediately.
Oil remained a key inflation watchpoint as Middle East tensions persisted: WTI settled up 0.39% at $91.85 and Brent rose 0.42% to $104.72 even after Trump ruled out pre-election strikes on Iran.