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Treasury yields fall with Fed, data in focus

Yields on United States Treasuries fell on Wednesday as investors digested Federal Reserve Chair Jerome Powell's comments, as well as the latest GDP data amid persisting recession fears. Meanwhile, Powell stated tackling high inflation remains the Fed's priority but acknowledged the central bank has realized "how little" it understands inflation.

The yield on the benchmark 10-year Treasury note declined 9.4 basis points to 3.113% at 1.23 pm ET. The yield on the 2-year note lost 6.1 basis points to hit 3.061% and the yield on the 30-year bond decreased by 8.5 basis points to 3.228% at the same time.

Bond futures, which move in the opposite direction to yields, rose across the board. The 2-year note added 0.08% at 1:24 pm ET, 10-year note futures rose 0.39% and the 30-year Treasury futures climbed 0.69% at the same time.

Baha Breaking News (BBN) / NP