Treasuries Slip on Fed Rate Bets, Stocks Mixed: Markets Wrap
- President’s address Tuesday to be scrutinized for fiscal plan
- Odds increase for U.S. interest rate hike; crude retreats
Evercore ISI Chairman Sees U.S. on Slow and Steady Path
This article is for subscribers only.
U.S. stocks were mixed as a tone of caution spread through financial markets before Donald Trump’s address to Congress Tuesday night. Treasuries fell after two Federal Reserve officials suggested rates could rise as soon as the March meeting.
The yield on 10-year Treasuries added three basis points in late trading after Fed Bank of San Francisco President John Williams said he expects an interest-rate increase to receive “serious consideration” and New York’s William Dudley said a hike will come “fairly soon.” The odds for higher borrowing costs in two weeks rose above 50 percent.