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Bond Report: Treasury yields rise as oil prices surge amid U.S.’s decision to end Iranian oil-import waivers

Treasury prices fell Monday, lifting yields, as the Trump administration said it would end waivers for countries importing Iranian oil, reports of which had driven crude prices higher.

What are Treasurys doing?

The 10-year Treasury note yield TMUBMUSD10Y, +0.78% rose 2 basis points to 2.583%, while the 2-year note yield TMUBMUSD02Y, +0.00% was down 0.6 basis point to 2.378%. The 30-year bond yield TMUBMUSD30Y, +0.00% was up 2.4 basis points to 2.987%. Bond prices move inversely to yields.

What’s driving the market?

Treasurys are coming under pressure as oil prices surge, which could give rise to inflation, a bugaboo of bond investors wary of its corrosive influence on the value of fixed-interest payments.

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