US Treasury rates fall as investors focus on Fed’s January monetary policy meeting
The yield on the benchmark 10-year Treasury note fell 4 basis points to 1.788 %. The 30-year Treasury bond yield dropped 3 basis points to 2.105 %. Yields move in the opposite direction of prices, and one basis point equals 0.01 %
• 10-year Treasury note fell four basis points
• 30-year Treasury bond yield dropped three basis points
The yield on the benchmark 10-year Treasury note fell 4 basis points to 1.788 %. The 30-year Treasury bond yield dropped 3 basis points to 2.105 %. Yields move in the opposite direction of prices, and one basis point equals 0.01 %.
The two-year Treasury yield, which represents expectations for short-term interest rates, also surpassed 1% for the first time in two years. On Wednesday morning, it stayed higher, hovering at 1.9 percent.
Investors are focusing on the Federal Reserve's schedule for raising interest rates and tightening monetary policy more generally.
Meanwhile, Cryptocurrencies slumped, with bitcoin down over 7% from its position on Thursday. It dropped below $38,300, its lowest level since August. Ether dropped 7.5 percent.