US 10-year treasury rate hits the 3% mark

The yield on the US 10-year treasury bond hit the 3% mark for the first time since late 2018 ahead of the Fed meeting planned today and tomorrow to raise interest rates further (probably by 50 basis points) to combat soaring inflation and slowing growth. In the UK, the BoE is also expected to raise interest rates again at its next meeting on Thursday in a similar context, but with a market consensus at 25 basis points only which could push its key interest rate at its highest level since 2009.

PMI figures released yesterday for the US and the Euro Zone were mixed. They were down month-on-month but above market consensus for manufacturing and services activities in Europe, while the US manufacturing ISM was below consensus and at its lowest level since September 2020 at 55.4, confirming the decline in US industrial activity in the context of soaring production costs, lingering supply chain issues and a rise in factory workers quitting their jobs.

On the agenda today, the Euro Area Unemployment Rate for March will be released at 10:00 AM while the EURUSD rate remains under bearish pressure towards the 1.05 mark this morning.

Share this news :

You might also read :

August 27, 2021

Hurricane rally

Crude prices jumped, with Brent October contract reaching 72 $/b, as the Ida hurricane threat became clearer. Ida is expected to reach oil infrastructures by…
February 12, 2021

Prices dropped again, in Europe and in Asia

European gas prices dropped again yesterday, still pressured by expectations of higher temperatures and stronger LNG supply to Europe in the coming days. The drop…
Join EnergyScan

Get more analysis and data with our Premium subscription

Ask for a free trial here

Don’t have an account yet?