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Key Treasury auction could determine direction of yields
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Key Treasury auction could determine direction of yields
reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.
Key Treasury auction could determine direction of yields
reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.
Stocks were mixed in the past week, with the Dow and S&P 500 higher, but the Nasdaq was dragged lower by interest rate-sensitive tech names. The benchmark 10-year Treasury yield has continued to press higher, revisiting its recent high of 1.61% on Friday, before trading at 1.54% in late trading. Yields move opposite price.
One wild card for stocks could be how interest rates behave around upcoming Treasury auctions.
There is a $38 billion 10-year auction on Wednesday and a $24 billion 30-year bond auction on Thursday.
Traders are watching these closely, after a historically weak 7-year Treasury note auction in February sent rates higher, even for the 10-year.
Stocks Face the Crosscurrents of Higher Interest Rates and Fiscal Stimulus in the Week Ahead
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