US Treasury yields declined Thursday morning, after Federal Reserve Chairman Jerome Powell painted a bleak picture of employment in the United States due to the Coronavirus pandemic, and the yield on the benchmark 10-year Treasury fell to 1.13%, while the yield on 30-year Treasury bills declined. Years to 1.907%.
US government bond yields plummeted after Powell told the New York Economic Club on Wednesday that the United States is far from where it should be in terms of employment, and said that monetary policy must remain patiently accommodating to deal with the issue.
A weekly update on new unemployment insurance claims is slated for Thursday, and auctions will be held on Thursday for $ 30 billion in 4-week bonds, $ 35 billion in 8-week bonds and $ 27 billion in 30-year notes.
