Government bond yields were firmer in early Tuesday trade as more hawkish commentary from Federal Reserve officials continued to permeate the market.
What’s happeningWhat’s driving markets Treasury yields were firmer in early Tuesday trade as more hawkish commentary from Federal Reserve officials continued to permeate the market.
Yields had dropped sharply at the end of last week and at the beginning of this week as investors made bets that Friday’s jobs report showing a slowing pace of wage inflation may encourage the Fed to ease its tightening of monetary policy. Investors are pricing in a 77.2% probability that the Fed will raise interest rates by another 25 basis points to a range of 4.50% to 4.75% after its meeting on February 1st, according to the CME FedWatch tool.
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