Markets
Treasury Market Slips, Front-End Yields Rise on Hawkish Powell
- Powell says bank stands ready to keep hiking if needed
- Reinforces speculation that rates on higher-for-longer path
Jerome Powell during the Jackson Hole economic symposium in Moran, Wyoming, on Aug. 24.
Photographer: David Paul Morris/BloombergThis article is for subscribers only.
The US bond market was hit by a fresh round of selling pressure after Federal Reserve Chair Jerome Powell said the central bank remains prepared to push interest rates higher and keep them elevated if needed to keep reining in inflation.
While Treasuries were little changed during Powell’s long-awaited speech in Jackson Hole, Wyoming, yields pushed up after it concluded and the hawkish message appeared to sink in.