Treasury yields mixed as investors assess stock market outlook
U.S. Treasury yields were mixed on Thursday as investors closely watched developments on the stock market, especially the banking sector, and digested the latest inflation-related economic data.
At 5:33 a.m. ET, the yield on the 10-year Treasury was up over two basis points to 3.5167%. The 2-year Treasury was trading at around 4.0237% after rising by more than five basis points. It had fallen by over 30 basis points on Wednesday.
Meanwhile, the yield on the 30-year Treasury dipped by under a basis point to 3.6855%.
Yields and prices move in opposite directions. One basis point is equivalent to 0.01%.
Investors considered the prospects for the economy as uncertainty about bank stocks continued. U.S.-listed Credit Suisse shares had tumbled on Wednesday after the Saudi National Bank, which is Credit Suisse’s largest investor, said it could no longer provide financial assistance to the Swiss bank.
Credit Suisse has since said it would borrow up to 50 billion Swiss francs ($54 billion) from the Swiss National Bank. U.S.-listed shares of the bank were last up in pre-market trading.
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