Treasury yields rose to 2024 highs as evidence of sticky US price pressures casts doubt on the Federal Reserve’s ability to start lowering interest rates later this year. Global bonds echoed the selloff.
Another key inflation report lies ahead on Friday, with the potential to further erode expectations for even a single rate cut this year. Even so, demand was fair-to-strong for this week’s more-than-$180 billion worth of Treasury auctions, a sign that investors remain inclined to treat yield surges as buying opportunities.
