U.S. bonds on Monday extended a rout sparked last week by strong economic data and pushback from the Federal Reserve on the potential timing and magnitude of interest-rate cuts this year.
The benchmark 10-year Treasury yield BX:TMUBMUSD10Y rose to 4.163% on Monday, a roughly 30 basis-point jump from the start of February as rates used to finance the economy sharply increased. Bond yields and prices move in the opposite direction.
“The…
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