The US 10-year Treasury note yield rose to above 4.7%, the highest since early November, as recent data prompted traders to scale back their expectations regarding the timing of a Fed rate reduction, now completely factoring in the first cut by December. On one hand, the US economy grew much less than expected in Q1 but on the other inflationary pressures remained elevated. The US economy expanded an annualized 1.6% in Q1 2024, the least since a contraction in Q2 of 2022, and below forecasts of 2.4%. Meanwhile, the core PCE price index, surged by 3.7% in Q1, accelerating from the 2% increase in the previous three-month period and above the estimate of 3.4%. Finally, US jobless claims fell to 2-month low, underscoring the strength in labor market.
US 10 Year Note Bond Yield was 4.69 percent on Friday April 26, according to over-the-counter interbank yield quotes for this government bond maturity. Historically, the US 10 Year Treasury Bond Note Yield reached an all time high of 15.82 in September of 1981. US 10 Year Treasury Bond Note Yield - data, forecasts, historical chart - was last updated on April 26 of 2024.
US 10 Year Note Bond Yield was 4.69 percent on Friday April 26, according to over-the-counter interbank yield quotes for this government bond maturity. The US 10 Year Treasury Bond Note Yield is expected to trade at 4.11 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 3.85 in 12 months time.