Ten-year Treasury yields rose to their highest since 2007 as investors absorbed suggestions from the Fed that it would keep interest rates higher for longer.
Ten-year Treasury yields rose to their highest since 2007 as investors absorbed suggestions from the Federal Reserve that it would likely keep interest rates higher for longer.
The chances of a 25 basis point rate hike to a range of 5.50 to 5.75% at the subsequent meeting in December is priced at 40%. In the U.K., 2-year gilt yields BX:TMBMKGB-02Y were up 6.5 basis points to 4.648% ahead of the Bank of England’s latest policy decision, due noon local time, 7 a.m. Eastern. Following softer-than-expected inflation data released Wednesday, the market is pricing a 50/50 chance on whether the BoE will raise rates another 25 basis points to 5.5%.
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