US 10-Year Treasury Yield Steady on Wednesday
The yield on the US 10-year Treasury note held steady at around 5.1% on Wednesday as investors continued to assess the outlook for the Fed’s monetary policy decision next week. Markets are pricing in an approximately 85% probability that the Fed will leave interest rates unchanged, while the odds of a 25bps rate hike in December stand at around 75%. Oil prices were up on Wednesday following fresh missile strikes targeting tankers in the Strait of Hormuz and Saudi energy facilities. Housing data released this week pointed to mortgage rates weighing on demand, while CPI and PPI reports published last week signaled mounting inflationary pressures. Treasury yields had surged to multi-decade highs earlier this month amid a global bond selloff, driven by persistent energy-related inflation, mounting government debt, and deteriorating fiscal conditions across major economies.
The yield on the US 10-year Treasury note held steady at around 5.1% on Wednesday as investors continued to assess the outlook for the Fed’s monetary policy decision next week. Markets are pricing in an approximately 85% probability that the Fed will leave interest rates unchanged, while the odds of a 25bps rate hike in December stand at around 75%. Oil prices were up on Wednesday following fresh missile strikes targeting tankers in the Strait of Hormuz and Saudi energy facilities. Housing data released this week pointed to mortgage rates weighing on demand, while CPI and PPI reports published last week signaled mounting inflationary pressures.
Treasury yields had surged to multi-decade highs earlier this month amid a global bond selloff, driven by persistent energy-related inflation, mounting government debt, and deteriorating fiscal conditions across major economies.