- About flat now, Treasury prices have been both solidly higher and nicely lower as Fed head Janet Yellen testifies before the Senate. Leading off her remarks by saying a high degree of monetary accommodation remains appropriate (bond prices rose), Yellen then suggested a faster-than-expected pace of rate hikes should employment continue its current path of improvement (bond prices fell).
- The 10-year yield is down one basis point to 2.54%, but Eurodollar futures are off a couple of points, suggesting just the slightest bit faster pace of expected rate hikes.
- TLT +0.1%
- ETFs: TBT, TLT, TMV, SHY, IEF, TBF, PST, EDV, TMF, TTT, ZROZ, TLH, SBND, IEI, TYO, DTYS, DLBS, VGLT, BIL, UST, UBT, VGIT, SHV, TLO, TBX, VGSH, SCHO, GSY, TENZ, SCHR, DTYL, ITE, LBND, TYD, SST, TYBS, DTUS, DTUL, TUZ, TBZ, DLBL, DFVL, FIVZ, DFVS, TYNS
- Previously: Gold slips below $1,300 as Yellen talks