Treasuries Plunge as Job Creation Pace Dims Wagers on Fed Cuts
It looks like analysts were a bit premature with their fed rate cut predictions - meaning we don't really know what is going to happen this year.
The article discusses recent shifts in the financial market, highlighting a sharp rise in yields across various maturities. Notably, two-year yields surged to approximately 4.48% and the benchmark 10-year note's yield increased to 4.07%. Market expectations for Federal Reserve rate cuts in 2024 have fluctuated, with a less than 50% probability of a quarter-point cut in March, down from earlier predictions. Despite this, a total of around 130 basis points in rate cuts is anticipated for the year. The Fed, maintaining its rate range in December, predicts three quarter-point cuts in 2024. Additionally, a significant job increase exceeded expectations, influencing market dynamics and perceptions of potential rate cuts.
Source: https://www.yahoo.com/finance/news/treasuries-plunge-job-creation-pace-140312452.html
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