- The 30-year US Treasury yield rose to 5.23% following the Federal Reserve's decision to keep interest rates between 3.5% and 3.75%.
- The Federal Open Market Committee showed internal division, with three of the twelve members favoring a 25 basis point interest rate hike.
- Rising oil prices linked to the Iran war are putting upward pressure on global bond yields by raising inflation concerns.
Quotes
“Where necessary and appropriate, we will not hesitate to act.”
“a few hints that rate hikes were still on the horizon”
“We have concerns that markets may react badly down the road to a perception that it is not moving when it should.”