U.S. Treasury Yields Move Lower After Williams Comments
The 10-year yield fell 2.51 basis points to 5.219%, and the 30-year yield dropped 3.42 basis points to 5.565%. The 2-year yield was flat at 4.795%.
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The 10-year yield fell 2.51 basis points to 5.219%, and the 30-year yield dropped 3.42 basis points to 5.565%. The 2-year yield was flat at 4.795%.
Ether dropped 4.4% to as low as $2,572 as elevated Treasury yields weighed on risk appetite. Analysts said weaker institutional demand and recent spot ETF outflows were adding pressure.
The dollar's recent advance could continue if the Fed minutes show broad support for further rate hikes, according to Infinox's Thadeu Dos Santos. A more cautious readout could reverse the move, while Thursday's jobless claims report is also seen as a possible catalyst.
US Treasury yields declined on Wednesday as markets priced in a lower probability of a Federal Reserve rate hike in October following inflation data that showed a smaller-than-expected increase in August. The 2-year Treasury yield fell 5.19 basis points to 4.837% and the 10-year yield dropped 1.45 basis points to 5.241
The Dow, S&P 500 and Nasdaq Composite all finished lower as 10-year Treasury yields hit their highest since June 2007 and 30-year yields since June 2002. The Conference Board said US consumer confidence plunged to a nearly 12-1/2-year low in September, while CarMax rose and Fair Isaac fell 26.5%.
The S&P 500, Nasdaq and Dow all finished lower as the 10-year Treasury yield rose to 5.293%, its highest since June 2007. JOLTS job openings fell and consumer confidence dropped to a nearly 12-1/2-year low.
MUFG says the US dollar is on track to strengthen for the second consecutive week despite losing some upward momentum