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Investor Alert

Oct. 27, 2021, 2:20 p.m. EDT

Long-dated Treasury yields on track for biggest daily drop in over 3 months

Long-dated Treasury yields on Wednesday were experiencing the biggest slide in months, with buying in long-dated bond yields fueled by concerns about the economic outlook, against expectations that the Federal Reserve will commence the reduction of monthly asset purchases, as early as next week, with an eye toward eventually hiking interest rates, which currently stand at a range between 0% and 0.25%. The 10-year Treasury note yield (XTUP:BX:TMUBMUSD10Y) was 8.3 basis points lower at around 1.538% at last check Wednesday, compared with its 3 p.m. Eastern Time levels. The daily slide for the benchmark Treasury rate, used to price everything from mortgages to car loans, would mark the steepest one-day slide since July 19, according to Dow Jones Market Data. Meanwhile, the 30-year Treasury bond rate (XTUP:BX:TMUBMUSD30Y) was at 1.953%, off 9.8 basis points, which would also mark its sharpest yield slide since July 19.

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