The yield on the 10-year US government bond on Monday rose to levels not seen in more than three years, as traders continue to “weigh” the effects of rising inflation.
More specifically, the yield on the 10-year T-bond increased by 5 basis points, to 2.8662%, levels which were last observed at the end of 2018. The yield on the 30-year US government bond gains 2 basis points, at 2.9424 %. The yields are inversely proportional to the price of a bond and 1 basis point corresponds to 0.01%.
Last week it was announced that retail sales in the US in March increased by 0.5%, compared to forecasts for an increase of 0.6%, with the main focus of growth fuel.
The consumer price index also rose 8.5% year-on-year in March, its biggest increase since December 1981. However, structural inflation for the month rose 0.3%, compared with a forecast of 0.5%.
In the wake of developments in the Russian-Ukrainian war, Ukrainian Prime Minister Dennis Smihal said Sunday that the remaining Ukrainian forces in Mariupol continue to fight, defying the Russian ultimatum to surrender.
Source: Capital
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