Bond Yields Soared With The Optimism Of Fed Officials

US bond yields soared with the optimism of US Federal Reserve members.

Bond yields soared with the optimism of Fed officials. Expressing his optimism for the economy in general, New York Fed Chairman John Williams said, “We are doing well in the vaccination program. There is a serious financial support to households, businesses and local governments.” The US Federal Reserve (FED) members' optimism about the US economy pressured US bond yields in an upward trend. The US 10-year bond yield, which reached a 14-month high at 1.77 percent, later declined, but reached 1.73 percent in Asian transactions, up three basis points. In Asia, with the Archegos shake, bank shares lost value. Banks in Japan decided to lower the Topix index. South Korea Kospi and Hong Kong Hang Seng index followed a positive trend. The S&P 500, which completed Tuesday with a 0.3 percent loss, experienced an increase in the first futures transactions. The Bloomberg Dollar Index gained 0.1 percent to a level of 1,155. Developing country currencies also declined, led by Indonesian rupee and Thai baht. Prior to the critical OPEC+ summit on Thursday, WTI crude oil fluctuated slightly above $ 60 and Brent Oil traded above $ 64.