10-year Treasury yield touches 1.74% despite Fed reassurances

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CNBC:

  • The Fed expected core inflation to hit 2.2% this year, but a long-run expectation of it sticking around 2%.
  • The U.S. central bank also indicated that it didn’t plan to hike interest rates through 2023 and that it would continue its program of buying at least $120 billion bonds a month.
  • Quilter Investors portfolio manager Hinesh Patel said that “while no response right now is arguably the only move on offer, whatever Powell does at this juncture, the Fed are taking bond markets to the danger zone.”

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