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US Treasury yields rise after bond buyback and stronger services PMI
The 2-year yield climbed 5 bps to 4.24%, while the 10-year rose nearly 3 bps to 4.474% as August services activity beat estimates.
US Treasury yields extended their rebound after the US Treasury announced it would buy bonds, while fresh data pointed to continued strength in parts of the economy despite manufacturing slowing, FXStreet reported.
Across the curve, the 2-year Treasury yield rose 5 basis points to 4.24%, and the 10-year benchmark climbed nearly 3 bps to 4.474%, with the 30-year ending the week at 5.276%, up 2.5 bps.
The report cited an improved S&P Global Services PMI for August that beat estimates, alongside a manufacturing index that slowed despite moderate growth.
It also noted that factory prices are being affected by disruptions linked to the US-Iran war, which are pushing up energy costs, and said the US Dollar Index was little changed at 98.84, down 0.02%.
Latest closeDollar index 99.64 ▼0.3%