Yields on the 10-year Treasury note spiked as high as 3% earlier this month from a base around 1.7% in the spring. However, yields on the 10-year note have fallen back below 2.7% this week in the wake of the Fed’s decision to not taper its bond purchases.
On Monday, New York Fed President William Dudley warned in a speech that fiscal uncertainties “loom very large” as Congress prepares to hash out a deal to avoid a government shutdown and raise the nation’s debt ceiling, Reuters reported.
Separately, Atlanta Fed President Dennis Lockhart likewise warned that America risked “losing its economic mojo” unless lawmakers worked to reverse declines in labor productivity and new job creation, according to the article.
iPath US Treasury 10 Year Bear ETN
