7/27, 5:52 PM (Source: TeleTrader)
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US Treasury yields rise with data, Fed in focus

United States Treasury yields rose on Thursday driven by a stronger-than-expected gross domestic product reading, and a declining rate of jobless claims in the country on a weekly basis.

The day before, the Federal Reserve decided to tighten its monetary policy for the eleventh time since last year, raising its main interest rate by a quarter a percentage point, which currently stands at its highest level since 2001. Fed Chair Jerome Powell underscored that the central bank might have a "long way to go" in returning the inflation to its 2% target, stressing that while Fed staff is no longer expecting a recession, decisions about the policy moving forward will be made "meeting by meeting."

The yield on the two-year note climbed 9.1 basis points to 4.918% at 11:48 am ET. The return on the 10-year Treasury note rose 8.9 basis points to 3.9400%, and the yield on 30-year bond was up by 7.2 basis points to 4.0010%

Baha Breaking News (BBN) / AB