Bonds
Treasury Yields Slip From Three-Month High With Powell Ahead
- Fed chair set to speak Thursday afternoon on economic outlook
- Fed speakers on Thursday cited uncertainty over policy path
The US Treasury Department in Washington, DC.
Photographer: Al Drago/BloombergThis article is for subscribers only.
Traders are taking stock in the $28 trillion Treasury market after days of frenetic price action, nudging long-term yields down from their highest since July as they assess the latest economic data and the impact of a Republican sweep in the US election.
US yields were modestly lower across the curve in late morning trading on Thursday in New York as investors parsed evidence of still-healthy demand for US workers against a slight pickup in core producer prices. The benchmark 10-year yield was down about 5 basis points at around 4.4%, after earlier touching 4.48%, a level it hasn’t reached since July 1.