Treasury yields climb ahead of remarks by Fed Chair Powell

Treasury yields climb ahead of remarks by Fed Chair Powell

U.S. Treasury yields climbed on Thursday, with Federal Reserve Chairman Jerome Powell due to make speeches later in the day. The yield on the benchmark rose 4 basis points to 2.8728% at 4 a.m. ET. The yield on the moved 4 basis points higher to 2.9227%. Yields move inversely to prices and 1 basis point is equal to 0.01%. Powell is due to give the welcoming remarks at the Volcker Alliance and Penn Institute for Urban Research Special Briefing, at 11 a.m. ET. He is then due to speak on the global economy at an International Monetary Fund debate, at 1 p.m. ET. This comes after the IMF cut its global economic growth forecast on Tuesday, for both 2022 and 2023, largely due to the effects of Russia's invasion of Ukraine. Investors will be listening closely to Powell's remarks for any more clues around the Fed's plans to aggressively tighten monetary policy, in order to rein in inflation. Concerns around inflation and the potential effect of tighter Fed policy has seen yields spike, with the 10-year hitting its highest point since late 2018 on Tuesday, at 2.94%. Grace Peters, head of investment strategy EMEAÂ at JPMorgan Private Bank, told CNBC's