- Yields on 10-year Treasuries dropped three basis points to 4.99%, snapping eight consecutive sessions of increases.
- Australian and Japanese 10-year yields also declined, down three basis points and less than one basis point respectively, as the pressured global bond market calmed.
- The retreat follows the Fed's rate hike and Chairman Kevin Warsh's vow to tame inflation, with market attention turning to Friday's Bank of Japan decision.
Quotes
“Global bond yields retreated Thursday, calming a pressured market after the Federal Reserve’s rate hike and Chairman Kevin Warsh’s vow to tame inflation, while traders awaited Friday’s Bank of Japan decision.”
“Yields on 10-year Treasuries fell three basis points to 4.99%, ending eight days of gains.”