US 10-year Treasury yields showed indecision at 1.50% on Tuesday ahead of Fed’s Chair Jerome Powell testimony to the Congress.
- The 10-year Treasuries yield traded at around 1.502% at 9.05 a.m. ET after gaining 1.7 basis points.
- The yield on 30-year Treasury bond rose by 3.8 basis points to trade at 2.144% ahead of Powell’s statement
- Powell is expected to talk about the Fed’s response to the pandemic at 2 p.m. ET before the House Select Subcommittee on Coronavirus Crisis
- Prepared comments released on Monday showed that Powell believes the economy has gained substantial improvement but still faces continued threats from the coronavirus pandemic.
- The Fed chair is also expected to back his 2% inflation target and continued job gains in coming months.
Last week, the Fed raised inflation expectations and hinted at raising interest rates sooner than expected.
10-year Treasury yield is currently 1.486%, DXY is up +0.15%, DJI is flat at -0.097%.