U.S. Treasury yields hit a new high in 19 years, PCE data becomes a key test
The yield on the 10-year U.S. Treasury bond once surged to 5.29%, reaching a new high in 19 years. New York Federal Reserve President Williams stated that he is "not in a hurry," cooling expectations for an interest rate hike in October. Saxo Bank pointed out that the yield has retreated, but tonight's U.S. PCE data will determine the next steps for the dollar and U.S. Treasuries.
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