Bond prices fluctuate as Yellen speaks


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

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