Yields on short-term Treasury bills were falling as news over the weekend of a debt-ceiling deal eased fears that the U.S. government may technically default.
Bond yields fell on Tuesday but easing concerns over a possible technical U.S. default and signs of sticky inflation still left traders pricing in a likely rate hike next month.The... Bond yields fell on Tuesday but easing concerns over a possible technical U.S. default and signs of sticky inflation still left traders pricing in a likely rate hike next month.The yield on the 1-month T-bill maturing June 1st, which was considered particularly at risk of default, was trading around 5.
Investors are consequently now betting that the Federal Reserve will soon tighten monetary policy further. The central bank is expected to take its Fed funds rate target back down to 5.03% by December, according to 30-day Fed Funds futures.
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