Treasury yields jump after Powell highlights strengthening economic outlook

Treasury yields rose sharply during Federal Reserve Chairman Jerome Powell’s testimony after he said the economic outlook had strengthened since December. The 10-year note yield shot up 5.1 basis points to 2.910%, according to Tradeweb data. The 2-year yield climbed 4.4 basis points to 2.274%. The 30-year rate rose 2.6 basis points to 3.180%. Analysts have construed his comments as hawkish and may be be pricing in a higher chance of the central bank implementing four rate hikes from a consensus of three hikes this year.

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From:: Stock Market News

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