Bond prices fell as investors doubted aggressive rate cuts by the Federal Reserve. The 10-year U.S. Treasury yield rose to 4.13%, while the 2-year yield increased to 3.59%. This followed Fed Chair Powell’s cautious stance on inflation, describing rate cuts as “risk management” with inflation above the 2% target.

Read more at Barron’s: Bond Selloff Extends as Investors Bet Against Deep Rate Cuts