Treasury Yields Recover Ahead of Powell’s Speech

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Treasury Yields Recover Ahead of Powell’s Speech

The 10-year yield rises to 2.932% from 2.877%, reversing a downward stretch as April retail sales come in slightly below consensus. Investors are waiting for Chair Powell’s remarks at the WSJ’s Future of Everything Festival this afternoon. “Although, Fed Chief Powell’s comments are expected to be determined in the fight against inflation, the very oversold market condition has set the stage for constructive rally,” Spartan’s Peter Cardillo says in a note to clients.