Treasuries Plunge After Fed Speakers Jolt March Hike Odds Higher
- Benchmark two-year yields reach highest since December
- Hike in mid-March to get ‘serious consideration’: Williams
El-Erian Says Wage Growth Is Key to Fed's March Decision
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Treasuries plunged after comments from Federal Reserve officials led traders to ramp up bets that the central bank will raise interest rates in the middle of next month.
Yields on two-year notes surged as San Francisco Fed President John Williams said he expects a rate boost to receive “serious consideration” when policy makers gather March 14-15 in Washington. He added he doesn’t see a need to delay the next move. New York Fed President William Dudley said the case for tightening “has become a lot more compelling,” with most data consistent with above-trend economic growth.