Lingering stress in U.K. gilts add further stress to the fixed income market despite more Bank of England intervention.
Bond yields rose on Tuesday as the Fed’s determination to fight inflation with even higher borrowing costs continued to weigh on Treasury prices.
What’s happening What’s driving markets The cash Treasury market returned from its long weekend with benchmark yields hovering around cycle highs as fretting about high inflation and tighter Federal Reserve policy continued to pressure fixed income assets. Cleveland Fed President Loretta Mester is due to speak at the Economic Club of New York at 12 noon. The New York Fed 5-year inflation expectations survey for October will be published at 11 a.m. Eastern Time.
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