Bond yields fell sharply on Monday as the failures of Silicon Valley Bank and Signature Bank had investors factoring in the chances of the Federal Reserve either pausing its rate-hike campaign or raising borrowing costs more slowly next week.
What happened
What drove markets
The monetary policy-sensitive 2-year Treasury yield plunged by more than a half-of-a-percentage point on Monday as investors fretted that spillover from the banking system — after the collapse of California’s Silicon Valley Bank SIVB and…
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