US Treasury yields steady ahead of Powell speechBusiness | 27 Aug 2020 8:27 pm
US Treasury yields held steady on Thursday as traders await a speech by Federal Reserve Chairman Jerome Powell, CNBC reports.
The yield on the benchmark 10-year Treasury note fell slightly to 0.6851 percent, while the yield on the 30-year Treasury bond was flat at 1.4051 percent. Yields move inversely to prices.
Fed’s Powell is due to address the virtual Jackson Hole Economic Policy Symposium at 9:10 a.m. eastern time, US. The Fed chair is expected to change the way it addresses inflation, after the central bank has taken numerous extraordinary measures to fight the impact of the coronavirus on the economy.
Investors widely expected the Fed boss to announce a shift in its inflation goal from a target of 2% to an “average target” of 2 percent.