2-year yield hits highest in a month, 10-year rises near 1.50% as market awaits Powell
- The 10-year Treasury note, 1.485% was yielding 1.499%, up 3.7 basis points, compared with 1.462% on Friday at 3 p.m. ET.
- The yield for the 30-year Treasury bond, 2.175% was at 2.189%, up 3.8 basis points, versus 2.151% to end last week.
- The 2-year Treasury note, 0.161% rate was at 0.159%, compared with 0.151% on Friday.
Monday’s climb for the 2-year Treasury drove it to the highest level since May 13, according to data compiled by Dow Jones Market Data.
Dollar slips in muted trading as Fed meeting looms; Bitcoin tops $40,000
The dollar edged lower against a basket of major currencies on Monday but its moves were largely muted as traders awaited a much-anticipated U.S. Federal Reserve meeting later this week that might signal a change in the outlook for U.S. monetary policy.
Currency markets settled in tight ranges with implied volatility plumbing to multi-year lows after last week’s strong inflation readings and a dovish European Central Bank meeting failed to dislodge currencies from recent trading levels.
The dollar index, which measures the greenback against a basket of six currencies, was up 0.1% at 90.427. Last week the index rose 0.4%, its largest weekly change in five weeks.
In cryptocurrencies, bitcoin traded above $40,000, for the first time in more than two weeks, after getting an almost 10% lift on Sunday, when Tesla Inc CEO Elon Musk tweeted that the electric carmaker will allow bitcoin transactions again when miners who verify transactions use more renewable energy.
Reference: CNBC, Market Watch
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