U.S. Treasury yields decrease as investors look for Fed comments from the annual meet

August 26, 2022: -On Thursday, U.S. Treasury yields were a little down than the Federal Reserve’s annual meeting in Jackson Hole, Wyoming.

The yield of the 10-year Treasury note declined 1.5 basis points to 3.09% after increasing on Wednesday. The 10-year yield w above the 3% level earlier this week for the first time in a month.

The yield on the Treasury bond of 30 years decreased one basis point to 3.30%, while the work on the short-term 2-year Treasury note decreased one basis point to 3.374%. Yields move to prices, with a basis point equaling 0.01%.

Investors will be viewing news from the economic symposium, which is anticipated to indicate the U.S. central bank’s post on the extent of more rate growth to fight inflation.

Thursday morning will also be published in the latest economic data on initial jobless claims, accurate gross domestic product figures, and GDP prices.

Fed Chair Jerome Powell will be providing a speech at 10 a.m. on Friday.

“Powell is likely to think that policy still has a long way to go before the Fed feels comfortable it has decisively turned the corner on restoring price stability,” Luke Bartholomew, senior economist at Aberdeen, said in an email.

“This is important due to the market has behaved recently as if the Fed has pivoted away from its hawkish stance.”

This week, the U.S. dollar has lifted against a basket of major currencies, sending gold prices to a one-week high as markets await more cues from the Fed.