By CNBC (U.S.) | Created at 2024-10-22 10:39:14 | Updated at 2024-10-22 12:25:21
1 hour ago
The U.S. 10-year Treasury yield extended gains on Tuesday after Federal Reserve officials urged caution on the path of interest rate cuts.
The yield on the 10-year Treasury rose 2 basis points to 4.2036%, marking its first time above 4.2% in three months, after jumping 12 basis points on Monday.
The yield on the 2-year Treasury was up 2 basis points to 4.0431%.
Yields and prices move in opposite directions. One basis point equals 0.01%.
It is a quiet week on the data front, but a busy week for Federal Reserve commentary, with an array of policymakers delivering speeches.
On Monday, Minneapolis Fed President Neel Kashkari said the longer-term trajectory for rates could be higher than it has been in the past; while Dallas Federal Reserve President Lorie Logan said a patient approach will be needed to lowering rates.
Kansas City Fed President Jeff Schmid also on Monday said a "cautious and deliberate" approach to rate cuts was appropriate after the Fed cut by a half percentage point in September.
Philadelphia Fed President Patrick Harker is due to speak Tuesday.
