Bond Report: Treasury yields rise after Fed decision as investors await GDP reading

by | Jul 28, 2022 | Stock Market

Treasury yields rose Thursday, a day after Federal Reserve Chair Jerome Powell said policymakers would take a meeting-by-meeting approach to interest-rate moves while signaling more tightening is on the way. Investors were also awaiting the release of data on second-quarter gross domestic product.

What yields are doing
The yield on the 2-year Treasury note
was at 2.976%, up from 2.968% at 3 p.m. Eastern on Wednesday. Yields and debt prices move opposite each other.

The 10-year Treasury note yield
was 2.783%, up from 2.731% Wednesday afternoon.

The yield on the 30-year Treasury bond
jumped to 3.078% Thursday, up from 3% late Wednesday.

What’s driving the market Investors were awaiting a first estimate of second-quarter gross domestic product at 8:30 a.m. Economists surveyed by The Wall Street Journal produced a consensus forecast for a 0.3% annualized rise, with some looking for the measure to show a second consecutive contraction. Treasury yields fell Wednesday after the Fed delivered a widely expected 75 basis point increase in the fed-funds rate and signaled more hikes were o …

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