Treasury Yields Spike as Rate Cut Bets Fade
• Sell-off in U.S. bonds market picking up speed as strong economy reduces hopes for imminent Fed rate cuts
• 10-year Treasury yield has shot up to 4.35%, highest since November, causing losses for investors betting on rate cuts
• Expectations for 2023 Fed rate cuts have been nearly halved since early January to about 80 basis points
• Fed speakers signaling hesitation to cut rates soon, making it hard for "fast money" trades betting on rate cuts
• Strategists say 10-year yield could rise further to 4.5% or 4.75% amid volatility, though some still forecast eventual rate declines