Bond Traders No Longer Price In Any Chance of Fed Cut in 2026
A television station broadcasts Chairman of the US Federal Reserve Jerome Powell speaking after a Federal Open Market Committee meeting on the floor of the New York Stock Exchange on March 18.
Photographer: Michael Nagle/BloombergBond traders are no longer pricing in any chance that the Federal Reserve will cut interest rates this year after the Bank of England stoked concern that global central banks may need to act soon against inflation.
Yields in Europe and the US climbed across maturities, with those on two-year US Treasuries — which are especially sensitive to expectations for Fed policy — higher by 11 basis points to 3.89%.