{"id":560532,"date":"2023-03-07T14:36:00","date_gmt":"2023-03-07T11:36:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bond-report-treasury-yields-tick-lower-ahead-of-powell-testimony\/"},"modified":"2023-03-07T14:36:00","modified_gmt":"2023-03-07T11:36:00","slug":"bond-report-treasury-yields-tick-lower-ahead-of-powell-testimony","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bond-report-treasury-yields-tick-lower-ahead-of-powell-testimony\/","title":{"rendered":"#Bond Report: Treasury yields tick lower ahead of Powell testimony"},"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-6a368964d5108\" 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-6a368964d5108\" 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-tick-lower-ahead-of-powell-testimony\/#%E2%80%9CBond_Report_Treasury_yields_tick_lower_ahead_of_Powell_testimony%E2%80%9D\" >&#8220;Bond Report: Treasury yields tick lower ahead of Powell testimony&#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-tick-lower-ahead-of-powell-testimony\/#Whats_happening\" >What\u2019s happening<\/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-tick-lower-ahead-of-powell-testimony\/#Whats_driving_markets\" >What\u2019s driving markets<\/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-tick-lower-ahead-of-powell-testimony\/#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-tick-lower-ahead-of-powell-testimony\/#Jamie_Chisholm\" >Jamie Chisholm<\/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_tick_lower_ahead_of_Powell_testimony%E2%80%9D\"><\/span>&#8220;Bond Report: Treasury yields tick lower ahead of Powell testimony&#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 crawler\" itemprop=\"articleBody\" data-sbid=\"WP-MKTW-0001755376\" 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-0001755376\" 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>       Bond yields fell on Tuesday ahead of Federal Reserve Chairman Jay Powell delivering testimony before Congress.<\/p>\n<h6><span class=\"ez-toc-section\" id=\"Whats_happening\"><\/span>What\u2019s happening<span class=\"ez-toc-section-end\"><\/span><\/h6>\n<ul class=\"articleList\">\n<li>\n      The yield on the 2-year Treasury<br \/>\n        TMUBMUSD02Y,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.000%\" channel=\"\" class=\"\">4.859%<\/bg-quote><br \/>\n       fell by 3.8 basis points to 4.863%. Yields move in the opposite direction to prices.<\/p>\n<\/li>\n<li>\n      The yield on the 10-year Treasury<br \/>\n        TMUBMUSD10Y,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.000%\" channel=\"\" class=\"\">3.933%<\/bg-quote><br \/>\n       retreated 2.9 basis points to 3.935%.<\/p>\n<\/li>\n<li>\n      The yield on the 30-year Treasury<br \/>\n        TMUBMUSD30Y,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.000%\" channel=\"\" class=\"\">3.860%<\/bg-quote><br \/>\n       dipped 3.3 basis points to 3.867%.<\/p>\n<\/li>\n<\/ul>\n<h6><span class=\"ez-toc-section\" id=\"Whats_driving_markets\"><\/span>What\u2019s driving markets<span class=\"ez-toc-section-end\"><\/span><\/h6>\n<p> Government bond yields are nudging lower as traders wait to see whether Powell gives any fresh clues about the trajectory of monetary policy when he delivers semi-annual testimony in Congress on Tuesday.<\/p>\n<div class=\"paywall\">\n       The session before the Senate Banking Committee is due to start at 10 a.m. Eastern.  Powell will also speak before the House on Wednesday. <\/p>\n<p>Two-year U.S. government bond yields sit just shy of their highest levels in 15 years after the Fed hiked interest rates by 450 basis points in the last 12 months in order to tackle inflation that remains more than three times the central bank\u2019s 2% target.<\/p>\n<p>Markets are pricing in a 72.3% probability that the Fed will raise interest rates by another 25 basis points to a range of 4.75% to 5.0% after its meeting on March 22nd, according to the CME FedWatch tool. <\/p>\n<p>The central bank is expected to take its Fed funds rate target to 5.46% by October 2023, according to 30-day Fed Funds futures.<\/p>\n<p>The fixed income market remains wary. The MOVE index, a gauge of expected Treasury price volatility, is near its high for the year having jumped about 30% since the start of February.<\/p>\n<div data-layout=\"inline\n                \" data-layout-mobile=\"\" class=\"\n          media-object\n          type-InsetMediaIllustration\n            inline\n  article__inset\n          article__inset--type-InsetMediaIllustration\n            article__inset--inline\n  \"><\/p>\n<figure class=\"\n        media-object-image\n        enlarge-image\n        img-inline\n        article__inset__image\n      \" itemscope itemtype=\"http:\/\/schema.org\/ImageObject\"><\/p>\n<div style=\"padding-bottom:63.857142857142854%;\" data-subtype=\"photo\" class=\"image-container  responsive-media article__inset__image__image\">\n        <img decoding=\"async\" itemprop=\"contentUrl\" srcset=\"https:\/\/images.mktw.net\/im-737444?width=540&amp;size=1.56479217603912 540w, https:\/\/images.mktw.net\/im-737444?width=620&amp;size=1.56479217603912 620w, https:\/\/images.mktw.net\/im-737444?width=639&amp;size=1.56479217603912 639w, https:\/\/images.mktw.net\/im-737444?width=700&amp;size=1.56479217603912 700w, https:\/\/images.mktw.net\/im-737444?width=700&amp;size=1.56479217603912&amp;pixel_ratio=1.5 1050w, https:\/\/images.mktw.net\/im-737444?width=700&amp;size=1.56479217603912&amp;pixel_ratio=2 1400w, https:\/\/images.mktw.net\/im-737444?width=700&amp;size=1.56479217603912&amp;pixel_ratio=3 2100w\" sizes=\"(max-width: 639px) 100vw, (max-width: 979px) 620px, (max-width: 1299px) 540px, 700px\" src=\"https:\/\/images.mktw.net\/im-737444?width=700&amp;height=447\" alt=\"\" title=\"\"><\/div><figcaption class=\"wsj-article-caption article__inset__image__caption\" itemprop=\"caption\"><span class=\"wsj-article-credit article__inset__image__caption__credit\" itemprop=\"creator\"><br \/>\n            Source: Google Finance.<br \/>\n          <\/span><br \/>\n  <\/figcaption><\/figure>\n<\/div>\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> \u201c[A]ll eyes will be on whether Powell uses the opportunity to strike a more hawkish tone [during his Congressional testimony], particularly given the strong data and upward inflation revisions since the last FOMC meeting,\u201d said Jim Reid, strategist at Deutsche Bank.<\/p>\n<p>\u201cThe question of most interest will be whether he indicates a preference to stick to the 25 basis point pace going forward, or if 50bp moves are still on the table. Futures are currently pricing roughly a 1 in 4 chance of a 50bp move at the next meeting, so confirmation that\u2019s being considered could lead to a sizeable market reaction. Ultimately though, since we\u2019ve still got another jobs report and CPI print before the March decision, there\u2019s still several other factors that\u2019ll influence that decision,\u201d Reid added.<\/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\":\"Jamie Chisholm\",\"subhead\":\"The Wall Street Journal\",\"list\":[{\"type\":\"link\",\"icon\":\"bio\",\"url\":\"https:\/\/www.marketwatch.com\/topics\/journalists\/jamie-chisholm\",\"text\":\"Biography\"},{\"type\":\"link\",\"icon\":\"email\",\"url\":\"http:\/\/www.marketwatch.com\/news\/mailto:jamie.chisholm@marketwatch.com\",\"text\":\"jamie.chisholm@marketwatch.com\"}]}' itemscope itemprop=\"author\" itemtype=\"http:\/\/schema.org\/Person\">\n<h4 itemprop=\"name\"><span class=\"ez-toc-section\" id=\"Jamie_Chisholm\"><\/span>Jamie Chisholm<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p><ufc-follow-author-widget product=\"marketwatch\" author-id=\"273_MW\" author-name=\"Jamie Chisholm\" signin-url=\"https:\/\/accounts.marketwatch.com\/login?target=https%3A%2F%2Fwww.marketwatch.com%2Fstory%2Ftreasury-yields-tick-lower-ahead-of-powell-testimony-17eab534%3Frss%3D1%26siteid%3Drss\" panda-api=\"https:\/\/follow-api.marketwatch.com\"><\/ufc-follow-author-widget><\/div>\n<\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"http:\/\/www.marketwatch.com\/news\/story.asp?guid=%7B20C06575-04D4-B545-71AC-8F0DBF537C9B%7D&#038;siteid=rss&#038;rss=1\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;Bond Report: Treasury yields tick lower ahead of Powell testimony&#8221; Bond yields fell on Tuesday ahead of Federal Reserve Chairman Jay Powell delivering testimony before Congress. What\u2019s happening The yield on the 2-year Treasury TMUBMUSD02Y, 4.859% fell by 3.8 basis points to 4.863%. Yields move in the opposite direction to prices. The yield on the&#8230;<\/p>\n","protected":false},"author":1,"featured_media":560533,"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-560532","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\/560532","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=560532"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/560532\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/560533"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=560532"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=560532"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=560532"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}