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Bond Yields Extend Surge, Traders See Chance of Rate Hikes This Year
Rates traders are now considering that possibility, assigning a nearly 30% chance of at least one rate hike by October on Friday, up from just 6% a day earlier, according to CME Group data.
Government bonds extended their selloff on Friday, with the yield on the 10-year Treasury recently hitting 4.39%, according to Tradeweb, up from 4.281% a day earlier. The 2-year Treasury yield, which often rises and falls with investors’ expectations for short-term interest rates set by the Fed, jumped to 3.89% from 3.83% Thursday.
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