(Bloomberg) — Treasuries fell, led by short-dated debt, after minutes from the Federal Reserve’s latest policy meeting showed “many” officials questioning whether policy was restrictive enough to bring inflation down to target.
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Yields on two-year notes rose about 5 basis points to 4.88%, shifting the US yield curve to the flattest in more than a month. Ten-year yields rose 1 basis point to 4.43%. The move started earlier in the day after rates on 10-year UK gilts surged following a stronger-than-expected inflation reading in Britain.
Minutes from the two-day Federal Open Market Committee gathering ended May 1 showed that while participants assessed policy was “well positioned,” various officials mentioned a willingness to tighten further if warranted.
Those conversations happened ahead of a US inflation print that showed price pressures cooling for the first time in six months, helping explain the…
