2-year Treasury yield jumps to highest since 2007 as Powell hints Fed may need to increase pace of hikes
Publishing timestamp: 2023-03-07 11:24:28
Summary
The 2-year U.S. Treasury yield rose on Tuesday after Federal Reserve Chairman Jerome Powell said the central bank may need to increase the pace of interest rate hikes. Powell suggested that the terminal level of the federal funds rate could be higher than previously indicated, and that investors could expect a rate hike larger than the most recent 25 basis point increase at the central bank's next policy meeting. Recent inflation data has suggested that pressures from rising prices are continuing. A raft of fresh economic data is due this week, including February's jobs report on Friday.
Sentiment: NEUTRAL
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