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U.S. Treasury yields move higher during European trading as traders grow wary about the pace of potential U.S. rate cuts, even though the Federal Reserve is broadly anticipated to cut rates on Wednesday.
The 30-year Treasury yield climbs to a three-month high of 4.811%, according to LSEG data. Money markets are pricing in an 86% likelihood of a 25-basis-point rate reduction this week, per LSEG, yet some investors worry the Fed may adopt a cautious stance given the uncertain outlook. Fed Chair Jerome Powell’s remarks could sway sentiment, notes Frank Walbaum of Naga.
The two-year Treasury yield increases by 1.1 basis points to 3.574%, while the 10-year yield advances by 1.2 basis points to 4.150%, according to Tradeweb.
