Another batch of strong U.S. economic data coupled with weekend remarks from Federal Reserve Chairman Jerome Powell shook financial markets on Monday, sending Treasurys toward their biggest two-day losses in months.Everything from 2-year Treasury notes
BX:TMUBMUSD02Y
through 30-year bonds
BX:TMUBMUSD30Y
sold off aggressively during New York trading, pushing yields higher by up to 10 basis points or more each on the day. The benchmark 10-year rate
BX:TMUBMUSD10Y
and its 30-year counterpart headed for their highest levels in more than a week. Meanwhile, the policy-sensitive 2-year rate was about to carve out an almost two-month high. All three yields are in the process of jumping by the most over the past two trading sessions than any time since at least May 2023.
Monday’s bond-market selloff, which also sent the iShares 20+ Year Treasury Bond ETF
TLT
into its worst two-day stretch since September 2022, was triggered by a return of the “higher-for-longer” theme in interest rates and expectations for fewer-than-expected rate cuts this year. Stocks got hit hard, with the Dow Jones Industrial Average
DJIA
down by as much as 434 points earlier in the day. Amid the dual selloff in equities and U.S. government debt, fed funds futures trad …
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BX:TMUBMUSD02Y
through 30-year bonds
BX:TMUBMUSD30Y
sold off aggressively during New York trading, pushing yields higher by up to 10 basis points or more each on the day. The benchmark 10-year rate
BX:TMUBMUSD10Y
and its 30-year counterpart headed for their highest levels in more than a week. Meanwhile, the policy-sensitive 2-year rate was about to carve out an almost two-month high. All three yields are in the process of jumping by the most over the past two trading sessions than any time since at least May 2023.
Monday’s bond-market selloff, which also sent the iShares 20+ Year Treasury Bond ETF
TLT
into its worst two-day stretch since September 2022, was triggered by a return of the “higher-for-longer” theme in interest rates and expectations for fewer-than-expected rate cuts this year. Stocks got hit hard, with the Dow Jones Industrial Average
DJIA
down by as much as 434 points earlier in the day. Amid the dual selloff in equities and U.S. government debt, fed funds futures trad …nnDiscussion:nn” ai_name=”RocketNews AI: ” start_sentence=”Can I tell you more about this article?” text_input_placeholder=”Type ‘Yes'”]