- Federal Reserve policymakers who dissented from the decision to leave rates unchanged said rate hikes were needed to tame inflation.
- Treasury yields rose four to seven basis points across maturities, and the 10- and 30-year yields reached new weekly highs.
- Oil prices climbed while the Middle East moved toward wider conflict, adding to inflation concerns and higher bond yields.
Quotes
“Treasuries fell after Federal Reserve policymakers who dissented from this week’s decision not to raise interest rates said hikes were needed to tame inflation, and as oil prices climbed.”