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.
