2-yr U.S. Treasury Prices Fell the Most in 12 Years Today

Posted by Patrick O'Connor on 6/9/08 12:17 pm

2-year U.S. Treasuries took a beating today when prices collapsed and yields shot up 0.365%, the biggest one-day jump in 12 years.

2-yr notes are extremely sensitive to the Federal Reserve’s stance on interest-rate policy, and a speech today from New York Federal Reserve President Timothy Geithner at the Economic Club of New York spooked the market when he said interest rates around the globe might have to increase this year to temper inflation pressures.

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