The yield on two-year Treasuries rose 8.4 basis points to 1.051per cent and on 10-year Treasury notes they climbed 10.2 basis points to 1.874per cent, a yield last seen that high in early January 2020. The two-year note could be 1.5per cent by March," he said. "The front end of the market is still way underpriced for Fed tightenings. The two-, three- and five-year part of the yield curve will bear the brunt of expected Fed policy, said Tom di Galoma, a managing director at Seaport Global Holdings in Greenwich, Connecticut. Two-year Treasury yields, which track short-term interest rate expectations, rose above 1per cent for the first time since February 2020 as traders priced in a more hawkish Fed before the U.S. banks after it missed quarterly earnings as the Fed slowed its asset purchases in November. and European technology stocks, while a drop in Goldman Sachs' stock led declines among U.S. The dollar hit a six-day high as Treasury yields surged, while inflation fears were bolstered as oil prices rose to their highest since 2014 on possible supply disruptions after attacks in the Gulf increased an already tight outlook. Treasury yields jumped to two-year highs and equity markets tumbled on Tuesday, with the Nasdaq falling more than 2per cent, as traders braced for the Federal Reserve to tackle fast-rising inflation by tightening monetary policy.
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