U.S. Treasury yields rose Tuesday as traders assessed the likelihood of higher Federal Reserve rates in the future.
Wednesday will also see an auction for $36 billion of 17-week Treasury bills.for the first time in nearly two years, pressuring Treasury yields as investors considered whether the information could deter the Fed from further rate hikes.
Future monetary policy moves remain in focus, with the Federal Reserve continuing to tackle inflation and the aftermath of banking collapses that caused turmoil in the bond markets in recent weeks. The Fed is next scheduled to meet in early May, when the policy rate will likely rise by a further 25 basis points, according to the CME Group's FedWatch tool.in New York Tuesday that the central bank needed to raise rates to address inflation. She offered no details.
"Precisely how much higher the federal funds rate will need to go from here and for how long policy will need to remain restrictive will depend on how much inflation, and inflation expectations are moving down," Mester said, adding that it will "depend on how much demand is slowing, supply challenges are being resolved, and price pressures are easing."
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