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TREASURIES-U.S. 2-year note yield hits fresh 9-year high after GDP data
October 27, 2017 / 12:55 PM / 22 days ago

TREASURIES-U.S. 2-year note yield hits fresh 9-year high after GDP data

NEW YORK, Oct 27 (Reuters) - U.S. Treasury two-year note yields climbed to fresh nine-year highs on Friday after advance data showed the world’s largest economy grew more than expected in the third quarter, offsetting the impact of Hurricanes Irma and Harvey.

Gross domestic product rose at a 3.0 percent annual rate in the July-September period after expanding at a 3.1 percent pace in the second quarter. Economists polled by Reuters had forecast the economy growing at a 2.5 percent pace in the third quarter.

In early trading, the U.S. two-year note yield rose to a nine-year peak of 1.639 percent after the GDP data. It was last at 1.631 percent, up from Thursday’s 1.619 percent.

U.S. 10-year U.S. Treasury note yields were at 2.459 percent, slightly up from 2.454 percent late on Thursday. Earlier in the session, 10-year yields hit a new seven-month peak of 2.477 percent. (Reporting by Gertrude Chavez-Dreyfuss; Editing by Chizu Nomiyama)

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