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8/3/2023, 5:13 PM (Source: TeleTrader)
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Yields on US long-term bonds keep rising

The yields on United States Treasuries with remaining maturity of 10 or more years extended their rise on Thursday after new labor data failed to reverse the recent trend.

In addition, Fitch Ratings' decision to move the US into a lower credit rating group due to "a steady deterioration in standards of governance over the last 20 years" and the "expected fiscal deterioration over the next three years" may have shaken market confidence in the nation's economy over the long term.

The return on the 10-year Treasury note increased by 9.9 basis points to 4.177% and the yield on the 30-year bond soared 13.3 basis points to 4.298% at 11:11 am ET, with both again reaching the strongest levels since early November 2022.

Baha Breaking News (BBN) / MS