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- October 13, 202619°
- BIST10012,151-0.94%
- USD49.220.00%
- EUR55.21+0.28%
- GOLD4,194.50-0.52%
- INTEREST37.00%-1.00
- BITCOIN82,961-0.85%
- October 13, 202619°
US Treasury bond yields rose before data
US Treasury bond yields rose ahead of new economic data and tensions in the Middle East. The latest movements in 10, 2, and 30-year bond yields...
US Treasury bond yields rose on Wednesday as investors awaited new economic data. While the pressure of developments in the Middle East on market sentiment continued, the rise in yields brought borrowing cost expectations back into focus.
The yield on the 10-year Treasury bond increased by more than 2 basis points in the morning hours, reaching 4.4768%. This maturity, considered a key benchmark for mortgages, auto loans, and credit card debt, remains one of the most closely watched rates in the markets.
The 2-year bond yield also rose by about 2 basis points to 4.0700%. This indicator, more sensitive to short-term interest rate expectations, reflected investors' perceptions of monetary policy.
The 30-year bond yield increased by 1 basis point to 4.9836%. Long-term yields generally react more sensitively to geopolitical developments.
Highlights
- The 10-year US Treasury bond yield rose to 4.4768%.
- The 2-year bond yield reached 4.0700%.
- The 30-year bond yield was 4.9836%.
- The rise was seen ahead of new economic data.
- Tensions in the Middle East continued to affect market sentiment.
Yields reversed upward after previous decline
This increase in bond yields came after borrowing costs declined during Tuesday's trading session. Markets turned back upward following short-term fluctuations.
Investors are closely watching the increasingly uncertain peace talks in the Middle East. The report noted that US and Iranian forces exchanged missile fire again during the night, further threatening the already fragile ceasefire.
Following these developments, energy prices also rose in early trading. US crude oil West Texas Intermediate futures increased by 2.3% to $95.94 per barrel.
The international benchmark Brent crude also rose by 2.1% to $98.05. Movements in oil prices were monitored alongside the cautious outlook in the bond market.
Focus on service sector data
The next data awaited by domestic investors is the ISM service sector PMI for May. The service index had declined from 54 in March to 53.6 in April.
Previously released new employment data showed that job postings increased by 731,000 in April, reaching 7.618 million. This level was recorded as the highest since November 2024.
The Mortgage Bankers Association will later announce the weekly average 30-year fixed mortgage rate for loans up to $806,500. Mortgage rates have also shown an upward trend in recent weeks, rising to 6.65% in the week ending May 22, up from 6.56% the previous week.
Context: The simultaneous rise in bond yields and oil prices indicated that investors are pricing in both the economic data flow and tensions in the Middle East together.
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