{"id":145424,"date":"2021-11-22T17:30:50","date_gmt":"2021-11-22T17:30:50","guid":{"rendered":"https:\/\/precoinnews.com\/?p=145424"},"modified":"2021-11-22T17:30:50","modified_gmt":"2021-11-22T17:30:50","slug":"treasury-yields-rise-after-biden-picks-powell-over-brainard-for-top-fed-post","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/markets\/treasury-yields-rise-after-biden-picks-powell-over-brainard-for-top-fed-post\/","title":{"rendered":"Treasury yields rise after Biden picks Powell over Brainard for top Fed post"},"content":{"rendered":"

U.S. Treasury yields rose Monday after President Joe Biden renominated Jerome Powell for a second term as Federal Reserve chair.<\/p>\n

The yield on the benchmark 10-year Treasury note climbed by 5.8 basis points to 1.594% at 9:22 a.m. ET. The yield on the 30-year Treasury bond advanced by 3.4 basis points to 1.941%. Yields move inversely to prices and 1 basis point is equal to 0.01%.<\/p>\n

Treasurys<\/h3>\n<\/table>\n

Biden on Monday morning announced Powell as his pick for the central bank chief nomination in a closely-watched decision. The president named Fed Governor\u00a0Lael Brainard as vice chair.<\/p>\n

"This is remarkably consistent with expectations and, if anything, adds to the curve flattening pressure. There was a great deal of focus on the nomination, which implies the passing of the event risk might see some follow-through price action," Ian Lyngen, BMO's head of U.S. rates, said.<\/p>\n

If Brainard had been nominated for the top Fed position, many expected more dovish monetary policy, meaning it may have taken the Fed longer to pull back its emergency stimulus measures.<\/p>\n

Stock picks and investing trends from CNBC Pro:<\/h2>\n

Goldman Sachs upgrades 4 Asian stock markets for 2022 \u2014 and lists stocks to buy<\/p>\n

Goldman Sachs says now's the time to buy these 7 stocks<\/p>\n

These are the stocks retail investors love that UBS says can go higher<\/p>\n

Buffett disciple Guy Spier reveals his biggest mistakes \u2014 and how he makes investing decisions now<\/p>\n

On Monday, existing home sales data for October is set to be released at 10 a.m. ET.<\/p>\n

Auctions are scheduled to be held for $57 billion of 13-week bills, $51 billion of 26-week bills, $58 billion of 2-year notes and $59 billion of 5-year notes.<\/p>\n

\u2014 CNBC's Yun Li contributed to this market report.<\/em><\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

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