U.S. bond yields continue to climb as investors brace for next week's Fed meeting.
The yield on the 2-year U.S. Treasury note climbed for a seventh straight trading session on Friday to its highest levels since October 2007, with investor unease growing ahead of an expected interest rate hike by the Federal Reserve next week.
What yields are doingWhat’s driving the market? Traders... The yield on the 2-year U.S. Treasury note climbed for a seventh straight trading session on Friday to its highest levels since October 2007, with investor unease growing ahead of an expected interest rate hike by the Federal Reserve next week.
What yields are doing What’s driving the market? Traders are bracing for next week’s Federal Reserve meeting where some are calling for a 100 basis point rise in the benchmark policy rate, following a surprise jump in U.S. inflation in August earlier this week that sent stocks to their worst one-day performance since June 2020.
Yields have been rising on expectations the Federal Reserve will hike by at least 75 basis points next week and keep rates higher for longer. That has intensified a yield curve inversion between 2 and 10-year Treasurys, where the former is more than 40 basis points higher than the later.
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