Treasuries Hit as Hawkish Fed Views Keep Piling Up: Markets Wrap
- Jobless claims hold steady in sign of resilient labor market
- Fed’s Williams says hike not baseline, but possible if needed
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The world’s biggest bond market extended this month’s selloff after solid economic readings and hawkish Fedspeak reinforced speculation that interest rates will remain higher for longer.
Treasuries fell across the US curve — with two-year yields once again near the 5% mark. The S&P 500 dropped for a fifth straight session — its longest losing run since October. The dollar rose. An initial quarter-point Federal Reserve rate cut remained priced in for November.