Short-end bond yields edged higher Thursday, as the U.S. dollar moved more forcefully in response to the hawkish message coming from the Federal Reserve.
What’s driving market
The action in bonds didn’t match the volatility seen in stocks ES00 and the U.S. dollar DXY following the Fed’s decision to lift rates by a half-point and issue a dot plot of rate forecasts above expectations. Fed Chair Jerome Powell pushed back on expectations of rate cuts next year.
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