Treasury yields rose on Powell’s Rate Hike Hints

The 10-year Treasury yield climbed above 1.8% Wednesday as Federal Reserve Chairman Jerome Powell offered an unusual degree of transparency for a Fed Chair, indicating that he endorses a quarter-percentage point increase when the central bank concludes its two-day policy meeting on March 16.

Wednesday’s trading brought a respite to the post-invasion Treasury rally that sent yields down sharply on Monday and Tuesday, as Powell said he advocates for March’s interest rate hike.