U.S. Treasury Yields Fall as Fed Speak Calms Rate Hike Expectations

Dow Jones13:35

0535 GMT - U.S. Treasury yields decline in Asian trade, retreating from Tuesday's highs, as Federal Reserve speakers mitigated interest-rate hike expectations. "Fed speakers painted a somewhat mixed picture," say J.P. Morgan strategists in a note. Presidents Goolsbee and Musalem emphasized the near-term inflationary risks of AI demand, alongside broader potential productivity gains, while Governor Barr reiterated that in his base case, "further adjustments" will be necessary to get inflation back to target. Meanwhile, New York Fed President John Williams stressed that there "is no need for urgency" after the hike at the September meeting. The 10-year Treasury yield is down 2 basis points to 5.233%, while the 30-year yield, which hit a 24-year high of 5.621% on Tuesday, last traded 3bps lower at 5.563%, according to Tradeweb.

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