Treasurys remain under pressure Thursday, with the yield on the 10-year note rising toward 1.30% after dipping to a five-month low at the beginning of the week.
Treasury prices remained under pressure Thursday, with the yield on the 10-year note rising to 1.30% after dipping to a five-month low at the beginning of the week.
What are yields doing? What’s driving the market? Investors will track a meeting of the European Central Bank, which is expected to leave policy unchanged but maintain a dovish stance after they tweaked their inflation target in a strategy review two weeks ago. The ECB, which previously aimed to keep inflation near but just below 2%, now has a symmetric target at 2%.
The yield on the benchmark 10-year German government bond TMBMKDE-10Y, -0.392% was down 0.4 basis point at -0.394%. “The meeting comes as the market environment has been quite supportive for fixed-income markets and this makes it difficult to judge how much of today’s message is already priced in but it is likely that EGB yields will be driven more by international factors than ECB rhetoric in the coming weeks,” they said.
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