Key Treasury Yields Reach 2024 Highs Amid Optimism on Economy
- US two- to five-year yields reach highest levels since Dec. 13
- Economy’s resilience is eroding confidence in Fed rate cuts
Last year’s annual CPI revisions were large enough to cast doubt on overall inflation progress.
Photographer: Ash Ponders/BloombergThis article is for subscribers only.
Treasury yields rose — with some reaching year-to-date highs — amid creeping investor doubt that the US economy will require as many Federal Reserve interest-rate cuts this year as the market has been pricing in.
While the only economic data released Friday was minimal revisions to 2023 consumer price index readings, the S&P 500 index eked out a new record high led by growth stocks, and Canadian employment data for January blew past economists’ estimates, similar to the US jobs report a week ago.