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Treasuries Climb Off Worst Levels But Still Close Lower

(RTTNews) - After coming under pressure early in the session, treasuries regained some ground over the course of the trading day on Wednesday.

Bond prices climbed well off their worst levels of the day but still closed in negative territory. As a result, the yield on the benchmark ten-year note, which moves opposite of its price, rose by 2.7 basis points to 1.389 percent.

The ten-year yield pulled back off the one-year intraday high of 1.435 percent hit in early trading but still finished the day at its highest closing level in a year.

The yield on the thirty-year bond also ended the session at its highest closing level since the early days of the coronavirus pandemic.

Treasuries climbed off their worst levels after Federal Reserve Chair Jerome Powell once again reiterated that the Fed is likely to maintain its ultra-easy monetary policy for the foreseeable future.
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