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US Bond Yields Soar Most Since Tariff Shock Amid Fears More Rate Hikes
Fed funds futures now price a more than 68% chance of another October rate hike, according to the CME FedWatch tool.
- On Wednesday, the 10-year Treasury yield surged to 5.135%, its highest level since July 2007, as market expectations for a Federal Reserve rate hike next month approached 70%.
- Stronger-than-Expected US business activity showing the greatest recorded increase since early 2015 suggests ample room for rates to rise, according to Vail Hartman, a U.S. rates strategist at BMO.
- The Dow Industrials fell more than 350 points, or 0.7%, while the Nasdaq Composite lost 1.1% during regular trading as yield surge sparked a market sell-off.
- Higher yields squeeze consumers' finances as they face increased borrowing costs alongside rising fuel prices, while one Federal Reserve governor stated Wednesday that further tightening is required.
- Fed funds futures trading suggests a greater than 68% likelihood of an October rate increase, up from roughly 49% a week ago, according to the CME FedWatch tool.
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18 Articles
18 Articles
By John Towfighi, CNN The 10-year U.S. Treasury bond performance skyrocketed on Wednesday and regained its highest level in nearly two decades, after new data showed strong business activity and growing concern for inflation.The 10-year yield rose by 15 basis points,
·Panama City, United States
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(New York = Yonhap News) Correspondent Lim Soo-jung = On the 23rd (local time), the three major U.S. stock indices in New York were affected by concerns over further interest rate hikes by the Federal Reserve (Fed) and Treasury yields...
·Seoul, Korea (the Republic of)
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Coverage Details
Total News Sources18
Leaning Left2Leaning Right1Center9Last UpdatedBias Distribution75% Center
Bias Distribution
- 75% of the sources are Center
75% Center
L 17%
C 75%
Factuality
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