US stocks reversed sharply lower Thursday and Treasury yields jumped, after
Federal Reserve Chairman Jerome Powell said that bigger rate hikes could be looming next …
US stocks reversed sharply lower Thursday and Treasury yields jumped, after Federal Reserve Chairman Jerome Powell said that bigger rate hikes could be looming next month. “I would say 50 basis points will be on the table for the May meeting,” Powell said at the International Monetary Fund Debate. That would double the Fed’s last increase of 25 basis points. The 10-year yield jumped as much as 9 basis points after the remarks before paring gains to 2.90%, up 6.4 basis points. The stock market sell-off followed this week’s rally on strong corporate earnings reports, including Tesla’s blowout revenue beat.
