U.S. Government Bonds Rise Ahead of Powell Testimony
July 17 2018 - 10:42AM
Dow Jones News
By Orla McCaffrey
U.S. government bond prices edged higher Tuesday morning as
investors awaited Federal Reserve Chairman Jerome Powell's
semiannual testimony before Congress.
The yield on the benchmark 10-year Treasury was recently at
2.847%, according to Tradeweb, compared with 2.856% on Monday.
Yields fall as bond prices rise.
Tuesday's testimony kicks off Mr. Powell's two-day visit to
Capitol Hill, during which he will testify before the Senate
Banking Committee and House Financial Services Committee.
"As Trump leaves Helsinki and a degree of calm descends on the
geopolitical front, the market will undoubtedly refocus on the
fundamentals of data and monetary policy," said Ian Lyngen, head of
U.S. government bond strategy at BMO Capital Markets, wrote in a
note Tuesday.
Investors will be paying close attention to Mr. Powell's
comments on the potential for trade tensions to slow economic
growth and the central bank's tolerance for rising inflation.
(END) Dow Jones Newswires
July 17, 2018 10:27 ET (14:27 GMT)
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