FXStreet (Mumbai) – The yields on the short duration and long duration treasuries in the US are on the rise after the FOMC offered a jobs clue that a rate hike is getting closer.
2-year yield rises
The 2-year yield, which mimics the short-term interest rate expectations, rose to a session high of 0.739%. Meanwhile, the benchmark 10-year yield rose to 2.31%, while the 30-year yield rose to 3.012%. The yields may be on the rise since the upbeat tone of the FOMC statement means the Fed is one more step closer to the rate hike.
Ahead in the day, we have the preliminary US Q2 GDP report due for release. The economy is seen expanding 2.5%, compared to the 0.2% contraction seen in Q1.
(Market News Provided by FXstreet)