There appears to be no stopping the rise in bond yields.

The ten-year US Treasury yield climbed to 1.67% this morning, marking its highest stage since January 2020. Bond yields and costs transfer in reverse instructions

The transfer comes simply hours earlier than the Federal Reserve’s financial coverage replace, and we will think about how it will go: Whereas Wall Avenue is fearful {that a} sudden spike in inflation because the economic system absolutely reopens will drive the Fed to lift rates of interest prior to anticipated, the central financial institution has remained regular in its view that it’s going to solely hike up charges when the economic system is prepared.

Fed Chairman Jerome Powell has stated he’s conscious of the current yield transfer. However since these remarks, yields have climbed additional.

Evidently all eyes will probably be on the press convention this afternoon at 2:30 pm ET.

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