10-year Treasury yield surges a second day to 4.17% as rate cut chances get pushed further back
Publishing timestamp: 2024-02-05 11:29:00
Summary
The yield on the 10-year Treasury note has risen for the second consecutive day as investors consider the future of interest rates. The 10-year Treasury yield increased by over 14 basis points to 4.175%, while the 2-year Treasury yield rose by about 11 basis points to 4.476%. The U.S. services sector also grew at a faster-than-expected pace in January. Federal Reserve Chair Jerome Powell stated that the central bank would be cautious with interest rate cuts and that the pace of rate cuts would likely be slower than expected. The probability of a rate cut in March has decreased to 14.5% according to CME Group's FedWatch tool.
Sentiment: MIXED
Keywords: prices, bonds, business news, breaking news: markets, interest rates, markets, government debt, federal reserve bank, economic outlook, u.s. 10 year treasury, jerome powell, treasury bills, economy, u.s. 2 year treasury, economic events, monetary policy, treasury notes,
Source: https://www.cnbc.com/2024/02/05/us-treasury-yields-investors-mull-over-interest-rate-outlook.html