this U.S. 10-Year Treasury Bond Stocks rose on Thursday as investors awaited a speech from Federal Reserve Chairman Jerome Powell.
The 10-year Treasury yield climbed more than 5 basis points to 3.835%, while the U.S. Treasury yield rose more than 5 basis points to 3.835%. 2-Year Treasury Bond It rose about 5 basis points to 3.976%.
Yields and prices move in opposite directions. 1 basis point equals 0.01%.
Powell is scheduled to speak at the annual Jackson Hole symposium on Friday. He made the remarks after the release of minutes from the central bank’s July policy meeting.
The minutes showed that a “vast majority” of Fed officials “observed that easing policy at the next meeting may be appropriate if data continues to be in line with expectations.”
Market participants firmly expect the Fed to cut interest rates at its next meeting. Traders now see about a 66% chance of a 25 basis point rate cut in September, with just over a third expecting a 50 basis point cut. CME Group’s FedWatch Tool.
Thursday’s gains came after yields fell the previous day.
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