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Bond Report: Treasury yields struggle for direction after strong first-half rise

Treasury yields were little changed Friday, but remain significantly higher on 2018 as investors prepared to close the books on the second quarter.

What are yields doing?

The yield on the 10-year Treasury note TMUBMUSD10Y, +0.22% was virtually flat at 2.847%, wile the 2-year yield TMUBMUSD02Y, -0.33% was off 0.8 basis point at 2.512%. The yield on the 30-year Treasury bond TMUBMUSD30Y, +0.18% declined 0.7 basis point to 2.969%. Yields and bond prices move in opposite directions.

What’s driving the market?

The Federal Reserve has delivered two rate increases in 2018 and has penciled in two more while continuing to wind down its balance sheet.

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