Treasury Yields Climb as Hot Data Fuel Fed Wagers: Markets Wrap
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Treasury yields climbed and stocks struggled after solid economic reports reinforced the case for the Federal Reserve to keep interest rates higher for longer.
Two-year US yields hit the highest since 2006, while those on 10-year notes jumped 13 basis points to 4.83%. Swap contracts tied to Fed rate decisions showed traders are pricing in more than 60% odds that policymakers will raise interest rates by another quarter percentage point in January after holding steady in November. A move in December is considered possible, but less likely than January.