{"id":424987,"date":"2022-04-01T16:31:00","date_gmt":"2022-04-01T13:31:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bond-report-treasury-yields-rise-with-2s10s-spread-inverting-again\/"},"modified":"2022-04-01T16:31:00","modified_gmt":"2022-04-01T13:31:00","slug":"bond-report-treasury-yields-rise-with-2s10s-spread-inverting-again","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bond-report-treasury-yields-rise-with-2s10s-spread-inverting-again\/","title":{"rendered":"#Bond Report: Treasury yields rise, with 2s10s spread inverting again"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a2f947d2b49c\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a2f947d2b49c\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/bond-report-treasury-yields-rise-with-2s10s-spread-inverting-again\/#%E2%80%9CBond_Report_Treasury_yields_rise_with_2s10s_spread_inverting_again%E2%80%9D\" >&#8220;Bond Report: Treasury yields rise, with 2s10s spread inverting again&#8221;<\/a><ul class='ez-toc-list-level-6' ><li class='ez-toc-heading-level-6'><ul class='ez-toc-list-level-6' ><li class='ez-toc-heading-level-6'><ul class='ez-toc-list-level-6' ><li class='ez-toc-heading-level-6'><ul class='ez-toc-list-level-6' ><li class='ez-toc-heading-level-6'><ul class='ez-toc-list-level-6' ><li class='ez-toc-heading-level-6'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/bond-report-treasury-yields-rise-with-2s10s-spread-inverting-again\/#What_are_yields_doing\" >What are yields doing?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-6'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/bond-report-treasury-yields-rise-with-2s10s-spread-inverting-again\/#Whats_driving_the_market\" >What\u2019s driving the market?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-6'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/buradabiliyorum.com\/en\/bond-report-treasury-yields-rise-with-2s10s-spread-inverting-again\/#What_are_analysts_saying\" >What are analysts saying?<\/a><\/li><\/ul><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/buradabiliyorum.com\/en\/bond-report-treasury-yields-rise-with-2s10s-spread-inverting-again\/#William_Watts\" >William Watts<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9CBond_Report_Treasury_yields_rise_with_2s10s_spread_inverting_again%E2%80%9D\"><\/span>&#8220;Bond Report: Treasury yields rise, with 2s10s spread inverting again&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<h2 class=\"article__subhead\" itemprop=\"alternativeHeadline\">\n<\/h2>\n<p><\/p>\n<div class=\"column column--full article__content\">\n<div class=\"article__side\">\n<div class=\"container--sticky not-active\">\n<div id=\"cx-next\" data-nosnippet>\n              <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div id=\"js-article__body\" class=\"article__body article-wrap at16-col16 barrons-article-wrap\" itemprop=\"articleBody\" data-sbid=\"WP-MKTW-0000749671\" role=\"document\">\n<div class=\"barrons-article-ad-wrapper\">\n<div data-track=\"barrons-article-ad-wrap\" class=\"barrons-article-ad sticky_item\">\n<div class=\"barrons-main-article-ad-target sticky_target body_ad\" aria-hidden=\"true\"><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div data-layout=\"\n                inline\" data-layout-mobile=\"\" class=\"\n          media-object\n          type-InsetArticleReader\n              \n              inline\n  article__inset\n          article__inset--type-InsetArticleReader\n              article__inset--inline\n  \"><\/p>\n<div class=\"media-object-article-reader\">\n<div class=\"audioplayer\" data-sbid=\"WP-MKTW-0000749671\" role=\"region\" aria-label=\"Listen to Article\" tabindex=\"-1\" id=\"articlereader\" data-show-title=\"false\" data-theme=\"wsj-article-reader\" data-show-header=\"false\" data-show-subscribe=\"false\" data-ads-enabled=\"true\" data-save-publication=\"false\">\n        <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p>       Treasury yields rose Friday as investors prepared for what\u2019s expected to be a strong U.S. March jobs report.<\/p>\n<h6><span class=\"ez-toc-section\" id=\"What_are_yields_doing\"><\/span>What are yields doing?<span class=\"ez-toc-section-end\"><\/span><\/h6>\n<ul class=\"articleList\">\n<li>\n      The yield on the 10-year Treasury note<br \/>\n        TMUBMUSD10Y,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.000%\" channel=\"\" class=\"\">2.451%<\/bg-quote><br \/>\n       rose to 2.408%, up from 2.324% at 3 p.m. Eastern on Thursday. <\/p>\n<\/li>\n<li>\n      The 2-year Treasury yield<br \/>\n        TMUBMUSD02Y,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.000%\" channel=\"\" class=\"\">2.456%<\/bg-quote><br \/>\n       stood at 2.388%, up from 2.284% Thursday afternoon.<\/p>\n<\/li>\n<li>\n      The 30-year Treasury bond yield<br \/>\n        TMUBMUSD30Y,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.000%\" channel=\"\" class=\"\">2.542%<\/bg-quote><br \/>\n       rose to 2.516% from 2.444% late Thursday.<\/p>\n<\/li>\n<li>\n      The 2-year yield jumped 155.4 basis points\u00a0in the first quarter, the biggest quarterly gain since June 1984, based on 3 p.m. levels, according to Dow Jones Market Data.<\/p>\n<\/li>\n<\/ul>\n<h6><span class=\"ez-toc-section\" id=\"Whats_driving_the_market\"><\/span>What\u2019s driving the market?<span class=\"ez-toc-section-end\"><\/span><\/h6>\n<p> Investors will be watching the release of U.S. March jobs data at 8:30 a.m. It\u2019s expected to show the U.S. economy created 490,000 new jobs last month, according to a poll of economists by The Wall Street Journal, not far below the 582,000 average in the prior three months. The unemployment rate is expected to tick down to 3.7% from 3.8%.<\/p>\n<div class=\"paywall\">\n       It\u2019s been an eventful week for the Treasury market, with the yield on the 2-year note briefly trading above the 10-year yield on Tuesday \u2014 marking a temporary inversion of that measure of the yield curve. Persistent inversions of the 2-year\/10-year part of the curve are seen as a recession indicator, albeit with a lag of a year or more.<\/p>\n<p><strong>See:\u00a0<\/strong>What stock-market investors need to know about the bond market\u2019s recession signal<\/p>\n<p>Investors will also parse a U.S. final March purchasing managers index reading at 9:45 a.m. ET and the Institute for Supply Management\u2019s March manufacturing index at 10 a.m. February consumption spending figures are also due at 10 a.m.<\/p>\n<p>Chicago Fed President Charles Evans is due to speak Friday morning.<\/p>\n<h6><span class=\"ez-toc-section\" id=\"What_are_analysts_saying\"><\/span>What are analysts saying?<span class=\"ez-toc-section-end\"><\/span><\/h6>\n<p>The second quarter \u201chas come in like a bear with 10-year yields backing up to 2.437% during the overnight session as the long bond breached 2.50%,\u201d wrote Ian Lyngen, head of U.S. rates strategy at BMO Capital Markets, in a note. \u201cEven the front-end of the market was weaker with 2s drifting back to 2.412% and leaving the flat-to-inverted 2s\/10s curve in place.<\/p>\n<p>\u201cAt this stage in the cycle there is only so far that the curve can invert and the zero bound <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ears to be a meaningful inflection point for 2s\/10s,\u201d he wrote. \u201cAs the realized rate hikes mount, there is a stronger case for a deeper inversion, but for now we expect the frequency of parallel shifts in the curve to increase; comparable to the overnight price action.\u201d<\/p><\/div>\n<\/div><\/div>\n<p><\/p>\n<div class=\"byline article__byline\">\n<p>    <span>By<\/span><\/p>\n<div class=\"author mobile-scrim hasMenu\" data-scrim='{\"type\":\"author\",\"header\":\"William Watts\",\"subhead\":\"The Wall Street Journal\",\"list\":[{\"type\":\"link\",\"icon\":\"bio\",\"url\":\"https:\/\/www.marketwatch.com\/topics\/journalists\/william-watts\",\"text\":\"Biography\"},{\"type\":\"link\",\"icon\":\"twitter\",\"url\":\"https:\/\/twitter.com\/wlwatts\",\"text\":\"@wlwatts\"},{\"type\":\"link\",\"icon\":\"facebook\",\"url\":\"https:\/\/facebook.com\/williamwattsmarkets\",\"text\":\"williamwattsmarkets\"},{\"type\":\"link\",\"icon\":\"email\",\"url\":\"http:\/\/www.marketwatch.com\/news\/mailto:bwatts@marketwatch.com\",\"text\":\"bwatts@marketwatch.com\"}]}' itemscope itemprop=\"author\" itemtype=\"http:\/\/schema.org\/Person\">\n<h4 itemprop=\"name\"><span class=\"ez-toc-section\" id=\"William_Watts\"><\/span>William Watts<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/p><\/div>\n<\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. 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What are yields doing? The yield on the 10-year Treasury note TMUBMUSD10Y, 2.451% rose to 2.408%, up from 2.324% at 3 p.m. Eastern on Thursday. The 2-year&#8230;<\/p>\n","protected":false},"author":1,"featured_media":424988,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/mw3.wsj.net\/mw5\/content\/logos\/mw_logo_social.png","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[],"class_list":["post-424987","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/424987","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=424987"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/424987\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/424988"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=424987"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=424987"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=424987"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}