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Two-year Treasury yield up after bank media report

The yield on the two-year United States Treasury note, which usually reflects interest rate expectations, jumped on Thursday. The biggest commercial banks in the United States are considering jointly rescuing troubled First Republic Bank, according to US media reports.

The development could ease investor concerns about a further economic contagion of instability that has struck the American financial sector recently, as well as leave the Federal Reserve on track to lift interest rates after all.

The return on the two-year Treasury note added 17 basis points to 4.143% at 12:06 pm ET. The yield on the 10-year note was up 1.7 basis points to 3.511% at the same time. The return on the 30-year bond decreased by 2.7 basis points to 3.661% a minute later.

Baha Breaking News (BBN) / MS