US Yields Climb Amid Unwinding of Dovish Fed Bets: Markets Wrap
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Treasury yields rose after data showed a further increase in consumer year-ahead inflation expectations, with some traders taking profits on dovish Federal Reserve wagers.
In a thin trading session ahead of the Thanksgiving holiday, two-year US yields hovered near 4.9%. The S&P 500 edged higher. Amazon.com Inc. climbed ahead of Black Friday and Cyber Monday sales. Microsoft Corp. gained on news Sam Altman will return to lead OpenAI. Nvidia Corp. dropped after its results. The dollar advanced. Oil declined.