(Bloomberg) — The U.S. bond market reeled further on Tuesday, extending Monday’s declines after Federal Reserve Chair Jerome Powell’s aggressive rate hike comments drove yields on short-dated Treasuries to one of their biggest daily jumps of the past decade.
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The central bank chief’s hawkish tone led traders to rapidly ratchet up estimates for how aggressively the Fed will tighten monetary policy this year as rising commodity prices threaten to add fuel to the…
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