US Treasury Yields Climb Higher, Core CPI Supports the Rise

On Monday, US Treasury yields continued their climb higher after the US core CPI came in stronger than expected. Early on Monday morning, the yield on the 10-year Treasury note rose to 2.1271% while the yield on the 30-year Treasury note climbed to 2.657%.

Last week, the core CPI rose to its highest levels in 18 months. In addition, weak demand during recent Treasury auctions have helped drive up the yields. Over the past few days, the US bond yields had fallen over increased sentiments for a rate cut by the Fed.

The yield on the 10-year Treasury note had fallen below the key 2% level, giving the markets a scare that a possible recession was looming. Fortunately, the CPI as well as a strong employment report have served to allay some of these concerns, for now.

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ABOUT THE AUTHOR See More
Arslan Butt
Index & Commodity Analyst
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.
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