By Steve Goldstein
Barclays lowers year-end 10-year yield forecast to 4%
Bond yields fell on Monday as investors awaited data on retail sales and as the market adopted a risk-off tone.
What’s happening
— The yield on the 2-year Treasury BX:TMUBMUSD02Y was 4.02%, down 0.7 basis points. Yields move in the opposite direction to prices.
— The yield on the 10-year Treasury BX:TMUBMUSD10Y was 4.29%, down 2.7 basis points.
— The yield on the 30-year Treasury BX:TMUBMUSD30Y was 4.59%, down 2.9 basis points.
What’s driving markets
Retail sales is the key datapoint due for release on Monday, as the Empire State manufacturing survey and home-builder confidence reports also are released.
Bond yields also moved lower as White House officials reiterated commentary over the weekend about the need to reset the economy.
“The U.S. administration is throwing a wet blanket on hopes for a ‘Trump put,” said strategists at Barclays, who lowered their 2-year yield forecast for the end of the year by 25 basis points to 3.5% as they also cut their 10-year forecast by the same amount, to 4%.
-Steve Goldstein
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03-17-25 0535ET
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