Steady 10-year yield, PCE up, Fed likely holds rates
CNBC — April 1, 2024, 10:00 AM UTC
Summary: The 10-year U.S. Treasury yield remained steady at 4.2004%, with the 2-year yield slightly lower at 4.5972%. The PCE for February showed a 2.8% increase on a 12-month basis, meeting expectations. Traders predict the Fed will maintain rates in May, with a 55% chance of a cut in June. Fed Governor Waller suggested a prolonged hold on rates to support sustainable inflation.
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