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Market Update: US Treasury Yields Soar as Fed Sees Higher Inflation
The yield on the benchmark 10-year Treasury note jumped by around 5bps to an over one-week high of 1.54% on Wednesday after the Federal Reserve said it expects PCE inflation at 3.4% this year, much higher than 2.4% seen in the March projection. Still, price pressures are expected to slow next year, with the PCE annual rate seen falling to 2.1% and reaching 2.2% in 2022. The yield on the 30-year Treasury bond was slightly higher at 2.206%. source: U.S. Department of the Treasury [/s2If]
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