U.S. government bonds prices have been hit by inflation, fears of persistent high rates
Bets that inflation would rapidly decline had stalled a yearlong bond rout in November and powered a rebound in stocks. But price pressures have lingered, pushing the Fed toward holding rates higher for longer than traders had expected.
The Fed’s rate target, now at 4.5% to 4.75%, is approaching the 5% level that officials thought as recently as December would be high enough to control inflation.
But the latest economic data have indicated that isn’t happening yet.
Matt Grossman WSJ 1 March 2023 16:51 CET
https://www.wsj.com/articles/10-year-treasury-yield-tops-4-for-first-time-since-november-d043cc
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