The Miami Entrepreneur

: 2-year Treasury yield heads for biggest weekly advance since September on growing chance of another Fed rate hike

The 2-year Treasury rate is on course for its largest weekly gain since September after Friday’s PCE inflation data prompted traders to boost their expectations for another Federal Reserve rate hike. The yield is up almost 30 basis points this week, at 4.568% in afternoon trading — which would be the largest weekly gain since the period that ended Sept. 23, based on preliminary data from Dow Jones Market Data. It’s also headed for its 12th straight session of advances, the longest such streak since January 2018. April’s personal consumption expenditures index showed inflation stuck between 4% to 5%, prompting fed funds futures traders to pricing in a 66.5% chance of a quarter-point rate hike in June. Yields on 2-year through 10-year Treasuries were all higher in afternoon trading.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Leave a Reply

Your email address will not be published. Required fields are marked *

Previous post : RingCentral stock rockets after shareholder says it may push for a merger
Next post : The dark side of the weight-loss-drug craze: eating disorders, medication shortages, dangerous knockoffs