U.S. Yields Near 18-Month High as Traders Await Fed, Auctions

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Treasuries declined, with benchmark yields approaching 2016 highs, as stronger-than-forecast U.S. consumer sentiment bolstered bets that the Federal Reserve will raise interest rates next week.

  • The U.S. 10-year yield rose six basis points to 2.47 percent at 4:47 p.m. in New York, nearing the 2.49 percent level reached last week, the highest since June 2015. The benchmark 30-year yield set a 17-month high at 3.17 percent. The Treasury will hold auctions of both maturities next week ahead of the Fed’s decision on Dec. 14.
  • Ten-year yield has increased this week by the most since the period ending Nov. 18
  • U.S. consumer confidence jumped more than forecast this month; the University of Michigan said Friday that its preliminary index of sentiment rose to 98, the highest since January 2015, from 93.8 in November
  • U.S. yield curve from two to 30 years steepens for second straight day
  • Treasury will sell $24 billion of three-year notes and $20 billion of 10-year notes on Dec. 12; will issue $12 billion of 30-year bonds on Dec. 13

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