TELETRADER News
3/27, 1:04 PM
(Source: TeleTrader)
US Treasury yields rise after Silicon Valley Bank deal
US Treasury yields rose Monday morning amid renewed optimism in the banking sector and equity markets. In recent hours, the concerns have eased after the FDIC unveiled a deal for Silicon Valley Bank.
According to the Federal Deposit Insurance Corporation (FDIC), all of Silicon Valley Bank's deposits will be acquired by First Citizens Bank & Trust Co, an operation that includes purchasing nearly $72 billion of SVB's assets at a discount of $16.5 billion.
The return on the 10-year Treasury note was up eight basis points to 3.46% at 7:01 am ET. The yield on the two-year note increased by 15 basis points to 3.93% simultaneously, while the return on the 30-year bond rose by five basis points to 3.698% at 7:02 am ET.