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(Bloomberg) — Wall Street traders sent short-dated notes lower after Federal Reserve Chair Kevin Warsh vowed to bring inflation to the 2% target, boosting wagers on an interest-rate hike this year.
In his first major speech since taking the helm of the world’s top central bank, Warsh’s remarks brought relief to investors urging a strong determination in dealing with price pressures and bolstering the long end of the Treasury market. His remarks drove yields on two-year notes up 10 basis points to 4.33%. Those on 30-year bonds were little changed. The S&P 500 wavered.
