Treasury yields shot higher early Thursday after revised U.S. GDP figures showed the economy grew at an annualized pace of 2% during the first quarter, significantly better than the previous reading of 1.3%. Yields shot higher, with the short end of the curve seeing the biggest move. The yield on the 2-year Treasury note TMUBMUSD02Y, 4.
869% hit its highest level since March 8, according to FactSet data, rising 16 basis points to 4.882%. The yield on the 10-year Treasury TMUBMUSD10Y, 3.832% rose nine basis points to 3.802%, its highest level since mid-June. Rising yields helped drag the U.S. dollar higher, with the ICE U.S. Dollar Index DXY, +0.37%, a gauge of the buck’s strength against a basket of rivals, gaining 0.2% to 103.1.
Source: Financial Digest (financialdigest.net)
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