Market Snapshot: U.S. 1-Month Yield Hits Multi-Year High Following Yellen Comments, ADP Jobs Data

Yields on 1-month U.S. Treasury securities hit a multi-year high, according to data from Tradeweb.

The bid yield on the 1-month U.S. Treasury bill was 0.196% as of 1:51 PM EST, up 9.7 bps from yesterday’s close of 0.099%. Today’s intraday high was 0.196%, while the intraday low was 0.191%. The last time the intraday yield on the 1-month bill was this high was on October 11, 2013, when it hit 0.266%. 

The bid yield on the 2-year U.S. Treasury note was 0.950% as of 1:51 PM EST, up 4.3 bps from yesterday’s close of 0.907%. Today’s intraday high was 0.954%, while the intraday low was 0.919%. 

The bid yield on the 10-year U.S. Treasury note was 2.192% as of 1:51 PM EST, up 3.5 bps from yesterday’s close of 2.157%. Today’s intraday high was 2.199%, while the intraday low was 2.154%. 

These moves follow the release of ADP job numbers showing a gain of 217,000 jobs in November and comments from Federal Reserve Chairwoman Janet Yellen, which suggest the economy has improved enough to help the Fed reach its inflation target and raise rates in December. 

In Europe, the bid yield on the 10-year German Bund was 0.481%, up 1.4 bps from yesterday’s close of 0.467%. Today’s intraday high was 0.483%, while the intraday low was 0.450%. This comes amid ongoing talk of expanded QE and another deposit rate cut from the ECB. 

The charts below are based on indicative, real-time data from Tradeweb.

CHART 1: U.S. 1-Month Treasury Yields – December 3, 2014 – December 2, 2015 (12 Month View)

CHART 2: U.S. 2-Year Treasury Yields – December 3, 2014 – December 2, 2015 (12 Month View)

CHART 3: U.S. 10-Year Treasury Yields – December 3, 2014 – December 2, 2015 (12 Month View)

CHART 4: German 10-Year Bund Yields – December 3, 2014 – December 2, 2015 (12 Month View)