Economic Recovery Hopes in sight
US Treasury yields climb amid economic recovery hopes
U.S. Treasury yields rose early this morning, as a result of growing market confidence of an economic recovery following the coronavirus pandemic.
The White House said it expects to finish sending out millions of doses of coronavirus vaccines this new week, after the winter storm in Texas disrupted its distribution logistics. Thus giving investors optimism a major nudge.
The yield on the benchmark 10-year Treasury note rose to 1.369% at 8:45 a.m. GMT, while the yield on the 30-year Treasury bond advanced to 2.162%.P.S: Yields move inversely to prices. That is, when prices are high, yields are low and prices are low, yields are high.
We expect data from the Chicago Fed National Activity index to throw more light on the state of the national economic activity later today which will largely determine market movement and investors next move.