U.S. Treasury yields tick higher as global bond rout slows
U.S. Treasury yields continued to climb higher to end the week following a global bond selloff and stronger-than-expected U.S. economic data.
US Treasury yields have ticked higher, following a global bond selloff and stronger-than-expected US economic data, according to CNBC World. The 10-year Treasury yield reached its highest level in nearly two decades, while the 30-year yield touched its highest level since 2004, as reported by Business Recorder.
Federal Reserve officials' comments about the need for further rate hikes have led traders to bet on a rate increase in October and December, with a 67% chance of another rate increase in October and a 57% probability in December, as per Business Recorder. The Fed raised rates last week for the first time since 2023 to control inflation.
The global bond rout has had a ripple effect, with Indian government bonds expected to see a large gap-down opening due to the surge in US Treasury yields, elevated oil prices, and a large supply of domestic debt. Business Recorder reports that India is set to sell benchmark paper worth 340 billion rupees ($3.54 billion) later in the day.
Brief written by urgent.news from CNBC World, Business Recorder — 2 reports on this story. Machine-written — may contain errors; check the original before relying on it.
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