February 14, 2023—Rates Mostly Inch Up – Forbes Advisor
It’s February 14, 2023, and the financial markets are having a good day. Rates are mostly up across the board, and investors are feeling more confident than they have in months.
The Dow Jones Industrial Average is up nearly 200 points, while the S&P 500 is up slightly. The Nasdaq Composite is up slightly as well, but the tech-heavy index is still down from its all-time high set earlier this month.
The yield on the 10-year U.S. Treasury note is up slightly, to 1.75%. That’s still well below the 2.25% rate that was seen just a few weeks ago.
The U.S. dollar is also up slightly against a basket of currencies, with the euro and the Japanese yen both down slightly.
Oil prices are also up, with Brent crude up 0.5% to $66.25 a barrel.
In the bond market, yields are mostly up, with the yield on the 30-year U.S. Treasury bond up to 2.81%.
The Federal Reserve is expected to keep interest rates unchanged at its meeting later this week. The central bank has been keeping rates at near-zero levels since the start of the pandemic, and there’s no indication that it will change course anytime soon.
Overall, it’s been a good day for the markets. Investors are feeling more confident and are taking advantage of the current low-rate environment. It remains to be seen if this trend will continue, but for now, it’s a positive sign for the economy.