Posted 3/14/2024, 7:36:56 PM
Treasury Yields Spike on Hot Inflation Data, Sparking Concerns of Fewer Fed Rate Cuts
- US Treasury yields climbed to highest levels in over a week due to hotter-than-expected inflation data
- Producer price report raised doubts about potential for Fed interest rate cuts this year
- Intermediate and long-term yields rose as much as 10 basis points
- Market-implied expectations for rate cuts faded, with under 3 now priced in by year-end
- Battle between inflation and consumer, with inflation currently winning
