The 10-year U.S. Treasury yield is at 3.17% as investors remain focused on inflation and
concerns over a possible economic slowdown.
The yield on the benchmark 10-year Treasury note climbed four basis points to 3.1726%. The
yield on the 30-year U.S. Treasury bond moved 4 basis points higher to 3.2659%. Yields move
inversely to prices and one basis point is equal to 0.01%.
The 10-year rate reached the 3% mark at the beginning of last week for the first time since 2018
and had hit 3.14% by week’s end (May 6).
The U.S. Federal Reserve announced a 50-basis-point interest rate hike on May 4 the central
bank’s efforts to combat rising inflation with more aggressive rate raises has also sparked
concerns that it could potentially drag the American economy into a recession.
Investor focus this week will be on April inflation data, due out on May 11.
Regarding the war in Ukraine, the Group of Seven (G7) countries announced that they would
increase short-term financial support for Ukraine as the war with Russia nears the three-month
mark.
Auctions are scheduled to be held today (May 9) for $45 billion U.S. of 13-week bills and $42
billion U.S. of 26-week bills.
