The 10-year Treasury yield climbed further to 4.6%
On Wednesday (9/27), optimistic economic data drove U.S. Treasury yields higher, coupled with market expectations that the Fed will maintain higher interest rates for a longer period to lower inflation rate to its 2% target. The 10-year U.S. Treasury yield continued its upward trending and hit a fresh top of 4.6%, reaching intraday highs near 4.63%, marking a new high since October 2007. The latest economic data indicated a rise in durable goods orders in the United States. Minneapolis Fed President Neel Kashkari stated the other day that with ample evidence of a strong economy, it remains unclear whether the Fed will end its rate hikes. It is expected that the Fed will keep interest rates steady next year, with the possibility of another rate hike by the end of this year.
Economic data
• The preliminary report for U.S. durable goods orders showed a growth of 0.2% on monthly basis in August, surpassing expectations of -0.5% and improving from the previous month’s decline of -5.6%.
• The preliminary report for U.S. core durable goods orders indicated an increase of 0.4% on monthly basis in August, exceeding expectations and the previous month’s figure of 0.1%.
US Treasury market conditions
• The 2-year US Treasury yield increased 2bps to around 5.14%.
• The 10-year US Treasury yield increased 7bps to around 4.61%.
10年期美債收益率進一步攀升至4.6%
週三（9/27）樂觀的經濟數據推動美債殖利率回升，加上市場預期美聯儲將在更長一段時間內保持高利率以降低通膨至2％的目標，10年期美債收益率延續近期的上升走勢，攀升至4.6%以上，盤中最高來到4.63％附近，為2007年以來的新高。最新公布的經據顯示，美國耐用品訂單上升。日前明尼阿波利斯聯準銀行行長卡什卡里 (Neel Kashkari) 表示，即使充分證據證明經濟持續強勁，尚不清楚聯準會是否會結束升息。預計聯準會明年將維持利率穩定，今年底前可能會再度升息一次。
經濟數據
• 美國 8 月耐久財訂單月率初值報 0.2%，預期 – 0.5%，前值 – 5.6%
• 美國 8 核心耐久財訂單月率初值報 0.4%，預期 0.1%，前值 0.1%
美債市場狀況
• 2年期美債利率較前日上漲2bps至約5.14%
• 10年期美債利率較前日上漲7bps至約4.61%