THE BARE STORY
U.S. Treasury yields declined Thursday after reaching multiyear highs earlier in the week. The benchmark 10-year yield fell 4 basis points to 5.237%, while the 30-year yield dropped nearly 5 basis points to 5.614%.
The Treasury Department sold $22 billion in 30-year bonds at a yield of 5.618%, concluding the week’s long-term debt sales. Indirect bidders bought 72.3% of the offering, above the 10-auction average of 68%, while direct bidders took 20.9%.
Federal Reserve Governor Christopher Waller said further interest-rate increases were needed to bring inflation down after it had remained above the central bank’s 2% target for about five and a half years. He said the increases did not have to occur at successive meetings but should be made within an appropriate period.
David Zervos, a counselor to Treasury Secretary Scott Bessent, said yields were historically high and could decline. He cited expectations for central-bank rate increases and corporate borrowing for artificial intelligence infrastructure as factors contributing to higher yields. Zervos said he expected rates to ease after what he described as a temporary energy shock connected to the U.S.-Iran conflict.
Note: All TheBareNews content is AI-generated. For additional context, reporting, and updates, you are invited to explore the news outlets linked above.
