Treasury Yields Reach Year’s High as Fed on Track for Rate Hike
- Futures traders assign 98% chance of an increase in December
- Yellen says interest-rate boost could come ‘relatively soon’
Fed Chair Yellen: Case for a Rate Hike Remains Strong
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Treasuries fell, pushing 10-year yields to the highest level of 2016, as Federal Reserve Chair Janet Yellen signaled the U.S. central bank is close to lifting interest rates.
Yields rose across maturities as Yellen said Thursday that a rate hike “could well become appropriate relatively soon if incoming data provide some further evidence of continued progress toward the committee’s objectives.” U.S. new-home construction jumped to a nine-year high in October, a Commerce Department report showed.