US Bond Yields Climb on Interest-Rate Hike Mention by Fed’s Williams

The US bond market’s recovery was cut short by a Federal Reserve official’s mere mention of the possibility of an interest-rate increase.

In response to a question during a conference in Washington, New York Fed President John Williams on Thursday said another rate hike isn’t his base case. But he also said that “if the data are telling us that we would need higher interest rates to achieve our goals, then we would obviously want to do that.”