Two-year Treasury yield posts its biggest 2-day drop since 2008 as financial crisis raged
Publishing timestamp: 2023-03-10 16:28:07
Summary
The shutdown of Silicon Valley Bank caused a flight to safer assets, such as government bonds, leading to a sharp decline in the yield on 2-year Treasury notes. This decline was not seen since the global financial crisis in 2008. The bank's failure also led to losses in the broader stock market, and investors are now considering the Federal Reserve's next interest rate policy moves. Nonfarm payrolls data for February rose more than expected, but wage growth grew less than expected and unemployment ticked higher, adding credence to the argument that the job market is cooling.
Sentiment: NEGATIVE
Keywords: federal reserve bank, treasury notes, central banking, interest rates, u.s. economy, u.s. 10 year treasury, u.s. treasury bonds, treasury bills, u.s. 2 year treasury, bonds, economic events, economic outlook, jerome powell, monetary policy, business news, united states, jobs, breaking news: markets,
Source: https://www.cnbc.com/2023/03/10/us-treasury-yields-investors-await-key-jobs-data.html