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Bond Report: Treasury yields retreat after bond market sees largest one-day selloff in weeks

U.S. Treasurys edged higher early Tuesday, pulling yields down, following the largest one-session selloff in weeks as fixed-income investors reacted to reports of possible shifts in a long-held policy position by Japan’s central bank, which also sent government bond yields in other developed markets jumping.

Yields and bond prices move in opposite direction.

The resurgence of volatility comes after the yield for the benchmark 10-year Treasury note was stuck in a tight range of a few basis points for close to three straight weeks.

See: The bond market is ‘coiling’ for a violent yield surge, says BMO strategist

The 10-year Treasury note yield TMUBMUSD10Y, -0.22% gave up 1.7 basis points to 2.946%, a day after marking its largest one-day rate jump since June 1 and hitting a six week high.

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