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Two-year yields hit one-month high on hawkish Powell comments
U.S. Treasury yields rose on Monday, with interest rate sensitive two-year yields reaching a one-month high, after Federal Reserve Chairman Jerome Powell continued to push back against the prospect of near-term rate cuts. Powell said in an interview with "60 minutes" that the Fed can be "prudent" in deciding when to cut its benchmark interest rate, with a strong economy allowing central bankers time to build confidence that inflation will continue falling. That comment came after Powell said at the conclusion of the Fed's two-day meeting on Wednesday that a rate cut in March, as the market had been pricing for, ... (full story)