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Treasury yields were slightly lower on Wednesday, as investors continued to absorb comments form Federal Reserve Chair Jerome Powell a day earlier and looked ahead to a busy schedule of speakers from the central bank.
What’s happening?
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The yield on the 2-year Treasury note
TMUBMUSD02Y,
4.462%
slipped 2 basis points to 4.446% from 4.469% on Tuesday, a move that marked the the highest for the 2-year rate since Nov. 29, according to Dow Jones Market Data. -
The 10-year Treasury note yield
TMUBMUSD10Y,
3.656%
fell 2 basis points to 3.646% from 3.673% on Tuesday, which was the highest for the 10-year rate since Jan. 5. -
The 30-year Treasury bond yield
TMUBMUSD30Y,
3.707%
also slipped 2 basis points, to 3.695% from 3.706% from 3.671% on Tuesday when the yield reached the highest since Jan. 10.
What’s driving the market?
In remarks on Tuesday, Powell said that the process of disinflation will probably be “bumpy” and that the January jobs report, which revealed a much stronger-than-expected 517,000 jobs bump, underscores why it’s going to take a long time.
Credit: marketwatch.com