Long-Dated Treasurys Sell Off as War Changes Mood Set by Jackson Hole
Dow Jones
Sep 01
1429 ET - The impact of Fed Chairman Warsh's Jackson Hole speech on Treasury markets seems to be fading fast. Warsh's promise to bring inflation down to the Fed's 2% target spurred bets on a September hike. As a result, two-year Treasury yields, which are more sensitive to such moves, rose faster than longer-term ones. But with the new flare-up in Hormuz and consequent oil spike, the two-year yield declines to 4.346% from an overnight high of 4.364%. The 10-year goes in the opposite direction and reaches 4.758%, the highest level since January 2025.
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