Fears a Russian invasion of Ukraine may be imminent lifts demand for Treasurys, pulling down yields.
Fears that a Russian invasion of Ukraine may be imminent continued to lift demand for Treasurys and other assets perceived as safe on Monday, pulling down yields that had previously soared in reaction to persistently hot inflation readings.
Read: What a Russian invasion of Ukraine would mean for markets as Biden warns Putin of ‘severe costs’ St. Louis Federal Reserve Bank President James Bullard on Thursday added fuel to the Treasury selloff, saying that he favored raising rates by 100 basis points, or 1 percentage point, by July 1, including the possibility of a half-point, or 50 basis point, rise in March. Bullard, a 2022 voting member of the Fed’s rate-setting Federal Open Market Committee, was due to be interviewed on CNBC Thursday morning.
“If we get to March and the data says we should be talking about that [a half-point rate increase], I’m sure that will be in play, but I’m not sure that is the answer, per se, to how we get there,” George said.
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