North American Morning Briefing: Treasury Yields Jump After Fed's Rate Decision

Stock futures were up while Treasury yields advanced further

following the Federal Reserve's rate decision yesterday.

After the Fed left interest rates unchanged, long-term Treasury yields rose sharply, hitting 19-year highs. The market took from Chairman Kevin Warsh's comments that he currently saw little need to raise official Fed funds to tackle inflation.

"Markets were giving Fed Chairman Kevin Warsh credibility on bringing down inflation following his first press conference in June," TD Securities' said. "The honeymoon period has ended with a bang as long-end rates have moved sharply higher amid a rebound in inflation expectations."

Meanwhile, oil prices were ticking up after the U.S. launched retaliatory strikes against Iran.

North American Morning Briefing: Treasury Yields Jump After Fed's Rate Decision

Other newsrooms on this story

Related reading

Treasury yields inch higher as Fed rate cut decision comes into focus

Treasury yields surge after Fed hold

U.S. Treasury yields move higher ahead of Fed's interest rate decision

Treasury yields nudge higher as investors await Fed decision

Treasury yields inch higher as investors await Fed's interest rate decision

US Treasury yields rise after three-day fall as oil jumps, Fed decision looms