Lots of Interest over Yellen Testimony

Greater clarity over an interest rate hike could come on Tuesday or Wednesday as Federal Reserve Chair Janet Yellen speaks with Congress.  The question-and-answer session after Yellen’s official remarks will be key, said Quincy Krosby, market strategist at Prudential Financial.

“If she veers away from the script that may move yields,” Krosby said. She referenced an 11-basis point move in the 10-year U.S. Treasury yield when former Fed Chair Ben Bernanke dropped hints about a taper during a congressional testimony two years ago.

U.S. bond yields edged lower on Monday, with the benchmark 10-year yield falling to 2.06 percent and the two-year yield falling to 0.60 percent from above 0.65 percent earlier in the day.  Yellen will address the Senate Banking, Housing and Urban Affairs Committee at 10 a.m. on Tuesday and the House Financial Services Committee on Wednesday.


Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.