Treasury yields continue to rise Tuesday, a day after Federal Reserve Chairman Jerome Powell said policy makers could deliver benchmark interest rate hikes...
Treasury yields rose further Tuesday, a day after Federal Reserve Chairman Jerome Powell said policy makers could deliver benchmark interest rate hikes bigger than a quarter percentage point if needed to rein in inflation.
What are yields doing? What’s driving the market? Treasury yields on Tuesday were extending a rise that came after Powell, speaking around midday Monday to the National Association for Business Economics, said Fed policy makers were prepared to lift rates in increments larger than 25 basis points, or a quarter of a percentage point, in future meetings if needed to rein in inflation.
Fed-funds futures this week showed traders had priced in a 61.6% probability of a 50 basis point rate increase at the next policy meeting in May, according to the CME FedWatch tool. That’s up from 50.5% a week ago. Meanwhile, Russia intensified air and sea attacks across Ukraine. President Joe Biden on Monday encouraged U.S. companies to harden their cyber defenses against Russia.
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