Bond Report: 10-year Treasury yield hits highest in month as Fed’s Barkin says officials will do what it takes to fight inflation

by | Aug 19, 2022 | Stock Market

U.S. bond yields rose on Friday, sending the 10- and 30-year maturities up for a third straight week, as traders assessed how high Federal Reserve officials might take interest rates to combat persistent inflation.

What’s happening
The yield on the 2-year Treasury
was up 3.2 basis points at  3.265% versus 3.233% late Thursday. It rose less than 1 basis point for the week. 

The yield on the 10-year Treasury
rose 10.8 basis points to 2.987% versus 2.879% Thursday afternoon. That’s the highest since July 20 and the largest one-day gain since Aug. 5, based on 3 p.m. levels, according to Dow Jones Market Data. It rose 13.9 basis points this week and has gained 34.5 basis points over the last three weeks.

The yield on the 30-year Treasury
advanced 8.6 basis points to  3.225% from 3.139% on Thursday. That’s the highest since July 8 and the largest one-day gain since Aug. 11. It gained 10.8 basis points this week and 24.9 basis points over the past three weeks.

What’s driving markets An absence of major economic data releases on Friday had investors focused on remarks made by Richmond Fed President Thomas Barkin, who became the latest Fed official to weigh in on the likely path forward for central-bank policy. Barkin said that the …

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