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3 Min Read FILE PHOTO: St. Louis Federal Reserve Bank President James Bullard speaks at a public lecture in Singapore October 8, 2018. REUTERS/Edgar Su (Reuters) - The recent run-up in yields on longer-dated U.S. Treasury securities reflects improving expectations for the economy, St. Louis Federal Reserve President James Bullard said on Friday, adding that he is not eyeing a specific level of yields that might concern him. The 10-year U.S. Treasury note yield - which rose above 1.62% on Friday before falling back to about 1.55% - is just returning to the level consistent with the six months before the coronavirus pandemic, Bullard said in an interview on SiriusXM Radio, characterizing it as “still quite a low level of yields.”

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