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Treasuries Sink as Fed Pivot Seems Less Likely: Markets Wrap

  • Equities waffled on Tuesday as markets remained on edge
  • Geopolitical tensions simmered; corporate earnings rolled in
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US Treasuries sank and stocks dropped after Federal Reserve officials signaled the central bank is still intent on raising rates until inflation is under control.

Treasury yields rose across the curve, with 10-year rates climbing as much as 20 basis points to 2.77%. The yen, which was on track for its fifth daily gain, fell as the dollar snapped four days of losses amid a sudden turnaround in risk sentiment.