Treasury Yields Fall Ahead of Warsh's Jackson Hole Speech as 10-Year Drops to 4.712%
Updated
Updated · CNBC · Aug 24
Treasury Yields Fall Ahead of Warsh's Jackson Hole Speech as 10-Year Drops to 4.712%
3 articles · Updated · CNBC · Aug 24
Summary
The 10-year Treasury yield fell more than 2 basis points to 4.7120% on Monday, with the 30-year at 5.2497% and the 2-year at 4.2209% as investors positioned for Fed Chair Kevin Warsh's Friday Jackson Hole speech.
That pullback follows last week's bond-market pressure, when 10-year and 30-year yields ended Friday up more than 3 basis points after the Treasury unveiled an extended debt buyback program that briefly lowered long-end borrowing costs before yields rebounded.
Warsh's address lands amid stubborn inflation and a $40 trillion U.S. debt load, with traders also watching this week's July core PCE report and second-quarter GDP estimate for clues on the Fed's path.
The moves matter beyond markets because the 10-year Treasury sets a key benchmark for mortgages, auto loans and credit card borrowing costs.