Short-term US Treasury yields fell sharply on "Powell Pivot Day", with the two-year Treasury yield dropping more than 9.4 basis points, and real interest rates falling by approximately 13 basis points this week

Wallstreetcn
2024.08.23 20:33

At the New York closing on Friday (August 23), the yield on the 10-year US Treasury benchmark bond fell by 5.50 basis points to 3.7971%. According to the speech at the Jackson Hole Global Central Bank Annual Meeting, Federal Reserve Chairman Powell's "pivot" led to a short-term drop of 6 basis points, with a cumulative decline of 8.55 basis points this week. The yield on the 2-year US Treasury bond fell by 9.46 basis points to 3.9090%. Before Powell's speech, it hit a daily high of 4.0188%, then dropped to a daily low of 3.9005% at 02:16 Beijing time, approaching the daily low of 3.8886% set on August 22 at 02:00. The yield has fallen by 13.86 basis points this week