Dow Streak Hits 12, Treasuries Fall on Rate Bets: Markets Wrap
- Odds for interest rate hike in March rise past 50 percent
- Investors look to Trump Tuesday speech for spending details
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The Dow Jones Industrial Average pushed its winning streak to the longest in 30 years, while Treasuries fell and the dollar advanced as the Trump administration began outlining its spending priorities in greater detail ahead of the president’s speech to Congress Tuesday.
The blue-chip stock index eked out a 12th straight gain to close at a record, as energy and industrial shares rose after Trump said he’d spend ‘big’ on infrastructure. The yield on the 10-year Treasury note climbed from the lowest close of the year, while Bloomberg’s dollar index turned green as the Fed Bank of Dallas president reiterated his view that rates should rise “sooner rather than later.” The implied odds for a Federal Reserve interest-rate increase next month rose to 50 percent.