2023-06-29 09:43:59 ET
U.S. Treasury yields jumped higher on Thursday morning after Wall Street received the latest revised measure of Q1 GDP data from the U.S. Department of Commerce.
Q1 GDP rose 2% at an annual rate which exceeded the 1.4% consensus. As a result to the economic data, U.S. Treasury yields rocketed higher.
Early on and the longer end U.S. 30-Year Treasury yield ( US30Y ) climbed 9 basis points to 3.89%. At the same time the U.S. 10-Year Treasury yield ( US10Y ) advanced 12 basis points to 3.83% and the shorter end U.S. 2-Year Treasury yield ( US2Y ) pushed up 15 basis points to 4.87%.
Not only did yields rise, but the inverted yield curve picked up steam and widened further as well. Currently the inversion between the U.S. 2Y and U.S. 10Y sits at 104 basis points which marked levels not noticed since 1981.
As yields rise it in turn pushes down U.S. Treasury bonds as the two move in opposite parallels. See below a grouping of some of the markets popular large-scale bond funds along with a list of Treasury ETFs:
- iShares Core U.S. Aggregate Bond ETF ( AGG )
- Vanguard Total Bond Market Index Fund ETF Shares ( BND )
- Direxion Daily 20+ Year Treasury Bull 3X Shares ( TMF )
- iShares 20+ Year Treasury Bond ETF ( NASDAQ: TLT )
- SPDR Portfolio Long Term Treasury ETF ( SPTL )
- Vanguard Long-Term Treasury ETF ( VGLT )
- iShares 10-20 Year Treasury Bond ETF ( TLH )
- iShares 7-10 Year Treasury Bond ETF ( IEF )
- iShares U.S. Treasury Bond ETF ( GOVT )
- Vanguard Intermediate-Term Treasury ETF ( VGIT )
- Schwab Intermediate-Term U.S. Treasury ETF ( SCHR )
- iShares 3-7 Year Treasury Bond ETF ( IEI )
- iShares 1-3 Year Treasury Bond ETF ( SHY )
- Schwab Short-Term U.S. Treasury ETF ( SCHO )
- iShares Short Treasury Bond ETF ( SHV )
- SPDR Bloomberg 1-3 Month T-Bill ETF ( BIL )
More on Markets:
- Yield curve between the US2Y and US10Y widens more than 100 basis points
- Initial jobless claims unexpectedly fall after two-week lull
- S&P, Dow, Nasdaq tread water and yields rise after GDP revision
For further details see:
Treasury yields jump after the 2% revised Q1 GDP data release