From Barchart:

Longer-dated yields have risen by .393% since the end of 2023, defying Fed Chairman Powell’s attempt to offer interest rate cut probabilities. While the Fed controls short-term rates, the market-driven long end of the yield curve is sending a message that it does not believe Powell’s recent comments. This signals a lack of faith in the Fed’s ability to influence long-term rates.



Read more: Interest Rates: 30-Year Yields are Calling Out Powell’s Cuts