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U.S. Equities Gain as Rout in Treasuries Deepens: Markets Wrap

  • Bond yields break out as Fed mulls steeper hiking cycle
  • S&P 500 recovers half its losses from selloff starting January
Bloomberg business news
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U.S. stocks rebounded while the selloff in Treasuries deepened Tuesday as traders weighed hawkish comments by Federal Reserve Chair Jerome Powell, which signaled the central bank will take more aggressive measures to tame inflation. 

The S&P 500 gained, recovering half its losses now from a selloff that started in January. Meanwhile, bond yields continued their ascent as short-dated Treasuries hurtled toward their worst quarterly performance in almost four decades.