Fed Swaps Price In Less Than 50% Chance of a June Rate Cut
- Market-implied odds of a June rate cut fall below 50%
- Goldman Sachs economists drop one cut from their 2024 call
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Two- and five-year Treasury yields climbed to the highest levels this year as swaps traders and economists at Goldman Sachs Group Inc. forecast fewer Federal Reserve interest-rate cuts.
The US two-year yield reached 4.749%, the highest level since Dec. 11, before paring the advance and ending the session little changed. The yield on the five-year note touched 4.367%, the highest since Nov. 28.