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Bond yields logged their fourth day of gains in the past five sessions on Wednesday, after the Federal Reserve delivered a widely expected half-percentage-point increase in interest rates and signaled that borrowing costs could go above 5% in 2023.The spread between 3-month and 10-year rates shrank to minus 83 basis points, remaining at one of its most inverted levels in 21 years.
What’s happening
What drove markets
On Wednesday, Fed policy makers raised their benchmark interest rate target by 50 basis points,…
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