U.S. Treasury yields reverse their rise after a solid 20-year bond auction.
The 20-year U.S. Treasury bond auction results were solid on Monday (11/20), leading to a reversal of the rise in medium- and long-term U.S. Treasury yields and a flattening of the yield curve. In the early U.S. session, U.S. Treasury yields were under pressure, with the 10-year yield rising to 4.486%, up nearly 5bps from the previous day, mainly due to the bond issuance discount and rising oil prices. In addition, Richmond Fed President Thomas Barkin said on Monday that the Fed’s work to control inflation is not yet done and must be maintained to see results.
Remarks by officials
· Richmond Fed President Thomas Barkin said on Monday that he still needs to be convinced that inflation is slowing down, and that the Fed’s work to lower inflation is not yet done and must be maintained to see results. It is not a good time to give forward guidance on interest rates now.
US Treasury market conditions
· The 2-year US Treasury yield increased 3bps to around 4.91%.
· The 10-year US Treasury yield decreased 2bps to around 4.42%.
20年期美債標售結果穩健，使美債收益率由升轉跌
週一（11/20）20年期美國公債發行結果穩健，帶動中長天期美債收益率尾盤由升轉跌，利差趨平。美國時段早盤，美債收益率一度承壓，10年期殖利率升至4.486%，較前一日走高近5bps，主因公債發行折讓及油價上漲。此外，里奇蒙聯準銀行行長巴爾金 (Thomas Barkin) 週一表示，聯準會控制通膨的工作尚未完成，必須堅持下去，才會看到結果。
官員談話
· 里奇蒙聯準銀行行長巴爾金 (Thomas Barkin) 週一指出，他仍需確認通膨正在放緩，聯準會降低通膨的工作尚未完成，必須堅持下去，才會看到結果。現在不是給出利率前瞻性指引的大好時機。
美債市場狀況
· 2年期美債利率較前日上彈3bps至約4.91%
· 10年期美債利率較前日下跌2bps至約4.42%
U.S. Treasury yields reverse their rise after a solid 20-year bond auction 20年期美債標售結果穩健，使美債收益率由升轉跌
