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Treasury yields rise as investors boost odds of Fed hike
The 2-year yield rose 10 basis points to 4.53%, and the 10-year hovered near 4.91% as long-dated yields moved with a key inflation print ahead.
Treasury yields climbed as investors increased bets on a potential Federal Reserve rate hike, with markets watching long-dated borrowing costs ahead of the next major inflation report, according to Yahoo Finance. Traders were pricing in a 62% chance of a hike ahead of the Fed policymakers' meeting next week.
The 2-year yield gained 10 basis points during the session to 4.53%, while the 10-year Treasury yield hovered near 4.91%. The rise reflected expectations that monetary policy could stay “higher for longer,” as reflected in market pricing.
Stocks also drifted lower, with tech shares under pressure. Yahoo Finance reported that the technology sector ETF fell more than 1% as AI chip and large-cap technology names declined.
Broader moves were tied to a wider macro backdrop that included surging oil prices, with Brent crude futures topping $105 per barrel amid ongoing Iran-US tensions in the Middle East. Yahoo Finance also noted declines across materials, consumer discretionary, and industrials ETFs.
Latest closeWTI crude $97.01 ▲4.3%|Brent $102.05 ▲4.2%