Yields rise but rally in government debt continues

  • Bond yields edge higher after last week’s rally in government debt
  • Yield on the 2-year Treasury up 1.8 basis points
  • Yield on the 10-year Treasury up 2.4 basis points
  • Yield on the 30-year Treasury up 1.9 basis points
  • Data from Institute for Supply Management shows deteriorating activity
  • Market focused on Fed Chair Jerome Powell’s testimony and nonfarm payrolls data

Bond yields edged higher on Monday, but the rally in government debt from weaker-than-expected economic data continued. The yield on the 2-year Treasury increased by 1.8 basis points, while the yield on the 10-year Treasury rose by 2.4 basis points. The yield on the 30-year Treasury also saw an increase of 1.9 basis points. This increase in yields comes after data released by the Institute for Supply Management showed deteriorating activity, leading to a decline in consumer sentiment and a drop in Treasury yields. The market will be closely watching Fed Chair Jerome Powell’s testimony to Congress and the upcoming nonfarm payrolls data on Friday. Analysts believe that the markets are likely to interpret the nonfarm payrolls number cautiously, considering seasonal adjustments and weather-related factors.

Factuality Level: 3
Factuality Justification: The article provides factual information about bond yields and the factors affecting them. However, it lacks depth and context, making it difficult for readers to fully understand the implications of the data presented. The article does not contain any misleading information or sensationalism, but it is quite brief and lacks in-depth analysis.
Noise Level: 2
Noise Justification: The article provides relevant information about bond yields and the factors affecting them, such as economic data and market events. It stays on topic and supports its claims with data. However, it lacks in-depth analysis, accountability, and actionable insights, which prevents it from scoring higher.
Financial Relevance: Yes
Financial Markets Impacted: Bond market
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Rating Justification: The article discusses the movement of bond yields in response to weaker-than-expected economic data. While there is no extreme event mentioned, the information is relevant to financial markets.
Public Companies: Institute for Supply Management (N/A)
Private Companies: BNP Paribas
Key People: Jerome Powell (Fed Chair)

Reported publicly: www.marketwatch.com