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RUSSIA

USD/RUB Slips, Approaches April Lows

US 10YR FUTURE TECHS

‌‌(M1)‌‌ Resistance Remains Intact

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The Fed is closely watching market developments including a rapid spike in long-term Treasury yields, Fed Chair Jay Powell said Thursday. "I would be concerned by disorderly conditions in markets or a persistent tightening of financial conditions if that threatens the achievement of our goals," Powell said.

Powell emphasized that, as MNI has reported, the economy still has ample slack and the Fed remains far from its goals of price stability and full employment.

The yield on the benchmark 10-year Treasury rose as high as 1.515% as Powell spoke, the highest level in a week.