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The yield on the benchmark 10-year Treasury note — the main benchmark for mortgages, auto loans and credit card debt — was nearly 6 basis points higher at 4.481% at 4:39 p.m. ET.
The shorter-term 2-year note added almost 4 basis points to 4.176%, while the yield on the 30-year Treasury was up by 7 basis points at 4.973%.
“There’s a lot of late breaking news on a series of these things, and we get into that room and shut the door, we’re going to have the good debate,” the central bank leader said. “But I don’t have much more for you than that.”
Warsh also declined to give hints on policy ahead of the July meeting, but he noted that “we’ve seen that prices are too high.”
Markets are currently pricing in a nearly 73% chance of the Fed keeping rates steady at its July meeting, and a roughly 65% chance that it enacts at least a quarter-point hike at the subsequent FOMC meeting in September, according to the CME’s FedWatch tool.
Traders also weighed new employment data, with private payrolls rising by 98,000 in June — less than a Dow Jones consensus of 110,000. The numbers come ahead of the government’s monthly jobs report due Thursday morning.
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