Fed seen hiking policy rate above 5% as job gains surge

The U.S. Federal Reserve is likely to need to lift the benchmark rate above 5% and keep it there to squeeze too-high inflation out of an economy where the labor market remains strong even after nearly a year of the most aggressive round of Fed rate hikes in 40 years. That was the betting in financial markets on Friday after the U.S. Labor Department reported employers added more than half a million jobs last month, far more than expected, and the unemployment rate fell to 3.4%, the lowest in more than 50 years. That was also how San Francisco Fed President Mary Daly saw it.
— Read on ca.finance.yahoo.com/news/fed-seen-more-likely-lift-134622758.html

Treasury Yields Leap as US Services Data Add Fuel to Fed Bets

(Bloomberg) — Treasuries tumbled Monday as stronger-than-expected US economic data added fuel to traders’ bets on how high the Federal Reserve’s interest-rates hikes will go.Most Read from Bloomberg‘Huge, Missing and Growing:’ $65 Trillion in Dollar Debt Sparks ConcernStocks Hit by Fed-Hike Jitters as US Yields Surge: Markets WrapAmbitious Plans to Build Indonesia a Brand New Capital City Are Falling ApartElon Musk’s Impossible Electric Truck Is Getting the Last LaughChina’s Covid Pivot Acceler
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