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TREASURIES-Market bets on Fed rate shift as bank stocks fall - Yahoo Finance

(Recasts headline, updates throughout) By Matt Tracy May 2 (Reuters) - U.S. Treasury investors on Tuesday strengthened their bets that the Federal Reserve will reverse its interest rate-hiking course sooner than expected, amid a wide sell-off in regional bank stocks and signs that government funds will run short by June. The yield on 10-year Treasury bonds fell 13.3 basis points from Monday's close to 3.440%, their lowest since April 26. Meanwhile 30-year bond yields dropped 8.5 basis points to 3.731%, while two-year yields fell 15.8 basis points to 3.981%. The demand for longer-dated paper comes as the market bets the Fed will pause its rate hiking and start cutting rates sooner than expected, after several regional bank ...

Yahoo     May 02, 2023