Bond Market Whipsawed by Inflation Data

U.S. Treasury yields swung sharply Thursday after another dismal inflation report set off a wave of selling in bonds that was followed by an almost equally large rebound.

In recent trading, the yield on the benchmark 10-year U.S. Treasury note was 3.901%, according to Tradeweb. That was essentially unchanged from Wednesday’s close—though up from 3.854% just before the consumer-price index data was released and down from 4.073% shortly after the report.

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