Ahead of the Jackson Hole Meeting... US 10-Year Treasury Yield Surpasses 3% Again
[Asia Economy New York=Special Correspondent Joselgina] Ahead of the annual economic forum 'Jackson Hole Meeting,' which can gauge the direction of the US Federal Reserve's (Fed) monetary policy, the US 10-year Treasury yield surpassed the 3% level again for the first time in about a month.
On the 22nd (local time) in the New York bond market, the 10-year yield recorded 3.026% at 11:34 a.m. Eastern Time. This is the first time it has exceeded 3% since July 21. It also briefly reached 3.04% during the session.
The 2-year yield, which is sensitive to monetary policy, also rose to 3.32%. The 30-year yield stood at 3.264%. Treasury yields move inversely to Treasury prices.
This movement in Treasury yields appeared amid expectations of high market volatility this week. Investors are awaiting the speech of Fed Chair Jerome Powell at the Jackson Hole Meeting held this week in Jackson Hole, Wyoming.
Hot Picks Today
As Samsung Falters, Chinese DRAM Surges: CXMT Returns to Profit in Just One Year
- "Most Americans Didn't Want This"... Americans Lose 60 Trillion Won to Soaring Fuel Costs
- Man in His 30s Dies After Assaulting Father and Falling from Yongin Apartment
- Samsung Union Member Sparks Controversy With Telegram Post: "Let's Push KOSPI Down to 5,000"
- "Why Make Things Like This?" Foreign Media Highlights Bizarre Phenomenon Spreading in Korea
According to the Chicago Mercantile Exchange (CME) FedWatch, the federal funds (FF) rate futures market currently reflects a 45.5% chance of a 0.5 percentage point rate hike in September. This is lower than last week's 61.0% and the previous day's 53%. On the other hand, as hawkish remarks from Fed officials have been pouring in recently, the possibility of a 0.75 percentage point hike has increased from 39% a week ago to 47% the previous day and 54.5% on the day.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
