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US Treasury yields steady at end of volatile week

“Shorter-end U.S. Treasury yields fell in midday Friday trading as traders bet on fewer rate hikes by the Federal Reserve this year” writes Evelyn Cheng for cnbc.com. The rate-sensitive 2-year Treasury yield fell to around 2.07 percent as of 12:16 p.m., ET. The benchmark 10-year Treasury yield also fell, trading near 2.82 percent.As measured by CME’s fed funds futures, the probability of a June rate hike fell below 50 percent from near 55 percent a week ago.On Thursday, the yield came close to a 4-year high of 2.885 percent that had helped trigger Monday’s stock market sell-off.”Any more weakness in stocks may have some believing it will slow the Fed’s rate increases,” said Bryce Doty, senior vice president of Sit Fixed Income Advisors.
 
Source: cnbc.com



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