- U.S. Treasury yields continued their march higher Thursday, reaching multiyear highs, as investors digested the Federal Reserve’s interest rate decision and forward guidance along with new unemployment data.
- The yield on the 10-year Treasury was up by around 12 basis points at 4.472%, hitting a fresh 2007 high in the session.
- Traders seemed to interpret the data as a sign the Fed may need to tighten policy further to tame inflation.
- Policymakers also suggested that they are expecting one more rate hike to come this year and rates to stay higher for longer, with just two rate cuts forecast for 2024.
