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Market Update: US 10-Year Treasury Yield Little Changed Ahead of FOMC
The yield on the benchmark US 10-year Treasury was little changed at 1.48% on Tuesday, close to 3-month lows, as investors await the Federal Reserve monetary policy meeting later in the week for any updates on the tapering timeline. Traders will also look for further clarity on policymakers’ view on rising inflation as prices continue to soar, with headline inflation topping 13-year highs and core inflation soaring to 1992-highs. Still, Fed officials have been reiterating inflationary pressures are transitory and markets appear to acknowledge the rise is mostly related to the pandemic. Meanwhile, the Treasury this week will auction $24 billion in 20-year bonds, $34 billion in 52-week bills and $16 billion in 5-year TIPS. source: U.S. Department of the Treasury [/s2If]
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