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According to Reuters, the 10-year Treasury yield at 3:08 pm ET was 1.6179%, an increase of 1.1 bps (1 bp = 0.01% point) compared to the yesterday.
The 30-year interest rate rose 1.7 bps to 2.3848% and the policy rate-sensitive two-year interest rate fell 0.2 bps to 0.151%.
Market participants are paying attention to the results of the regular FOMC meeting of the Federal Reserve (Fed), which will close tomorrow (17). The market’s main concern is the Fed’s economic outlook and the recent appreciation of Treasury yields.
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| Headquarters of the Federal Reserve (Fed) [사진=로이터 뉴스핌] |
Bill Mertz, an interest rate analyst at US Bank Asset Management, told Reuters that “the market is reflecting the reasonable possibility of raising the base rate in 2022 following an economic improvement amid massive fiscal and monetary stimulus and expansion. of vaccines “.
“Markets and expectations are moving quite quickly, and the Fed is trying to keep up with the old message that policy changes require significant progress,” Mertz said.
The 20-year tender, which received market attention, was good. According to money market economist Tom Simons of Jeffreys, there was aggressive competition for a 20-year supply of $ 24 billion.
However, Simons Economist explained: “But after digesting the results, we turned our attention to the same material that was pressing on the organs.”
The economic indicators were somewhat slow. The US Department of Commerce said retail sales in February fell 3.5 percent from the previous month. In the same month, industrial production also fell 2.2%. The cold snap that hit the southern United States last month slowed down economic activity. However, economic experts assessed that the recession was temporary due to economic stimulus measures and increased vaccination.
