Increased bond supply pushes up Treasury yields
The Middle East conflict remains unresolved, and various countries are trying to prevent the war from spreading through diplomatic means. On Monday (10/16), corporate bond issuance was active, and there will be a large amount of US Treasury bonds issued this week, pushing up Treasury yields. By the close, the 2-year yield rose to around 5.1%, while the 10-year yield climbed back to around 4.7%, reversing the decline on Friday due to risk aversion. In addition, Philadelphia Fed President Harker said on Friday that he favored keeping interest rates unchanged, and the market is waiting for Fed Chair Powell’s speech this week.
Remarks by officials
- Chicago Fed President Austan Goolsbee told the Financial Times in an interview that the slowdown in US inflation is a trend, not a temporary phenomenon, even though recent economic data showed some price pressures.
US Treasury market conditions - The 2-year US Treasury yield increased 4bps to around 5.09%.
- The 10-year US Treasury yield increased 9bps to around 4.71%.
債券供給上升使美債收益率走高
中東衝突未解，各國試圖以外交方式防止戰事蔓延至其他國家，周一（10/16）公司債發行活躍，且本週有大量美國公債發行，美債收益率走高；截至收盤，2年期上彈至約5.1%附近，10年期則是再度升至約4.7%附近，回補了上週五因避險情緒而走低的影響。此外，上週五費城聯準銀行行長哈克（Patrick Harker）表示傾向於保持利率不變，市場靜待本週聯準會主席鮑爾（Jerome Powell）將發表談話。
官員談話 - 芝加哥聯準銀行行長古爾斯比（Austan Goolsbee）於接受《金融時報》採訪表示，美國通膨放緩是趨勢，而不是暫時現象，即使最近有經濟數據顯示某些物價面臨壓力。
美債市場狀況 - 2年期美債利率較前日上漲4bps至約5.09%
- 10年期美債利率較前日上漲9bps至約4.71%