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Strong US Economic Data Drives Up Treasury Yields
BlockBeats News, February 3rd, as the latest data shows the strengthening resilience of the U.S. economy, U.S. Treasury yields rise.
Konstantinos Chrysikos of Kudotrade stated in the report that the ISM Manufacturing PMI released on Monday "brought a significant upside surprise." He pointed out that despite employment and inventories still being in contraction territory, the rebound in the employment subindex suggests that the drag from the labor force on the economy may be easing. "Overall, these data reinforce the narrative that the U.S. economic growth still exhibits resilience."
According to Tradeweb data, the U.S. two-year Treasury yield rose by 1.4 basis points to 3.582%; the 10-year Treasury yield rose by 1 basis point to 4.286% (IG)
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