9/21/2023, 2:31 PM (Source: TeleTrader)
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Ten-year Treasury yield reaches new 15-yr high

Yields on the United States Treasury bonds climbed on Thursday after the Federal Reserve revealed that it might need to maintain higher interest rates for longer than anticipated, with the federal funds rate expected to land above initial forecasts for both 2024 and 2025.

Federal Reserve Chair Jerome Powell did not rule out additional monetary tightening over the coming period.

The return on the 10-year Treasury note surged by 12.5 basis points to 4.4720% at 8:26 am ET, reaching its highest point since October 2007. The yield on 30-year bond jumped by 11.4 basis points to 4.5110% and hitting the level not seen in twelve years. At the same time, the return on the two-year note soared 6.2 basis points to 5.1820%, highest since 2006.

Baha Breaking News (BBN) / AB