The 10-year U.S. Treasury yield fell slightly on Wednesday morning but hovered above 2.37%, amid concerns about the war in Ukraine and inflation. The yield on the benchmark 10-year Treasury note dipped less than a basis point to 2.3753% at 5 a.m. ET. The yield on the 30-year Treasury bond rose less than a basis point to 2.5932%. Yields move inversely to prices and 1 basis point is equal to 0.01%. The 10-year rate has surged since the beginning of the week, when Federal Reserve Chairman Jerome Powell offered hawkish remarks when discussing how the central bank would combat inflation. Powell said that the Fed would be prepared to be even more aggressive with rate hikes than the central bank had forecast. Last week, the Fed announced its first rate hike since 2018.
Source: CNBC – Bonds
