Indian rupee, bonds weaken tracking U.S. treasuries; more falls likely

The Fed has said it wont raise rates. The market is saying We may raise rates for you. Thats arguably the story of todays messy selloff. The 10-year Treasury yield flirted with and then finished above 1.5% for the first time in a year. Thats up 60 basis points from the start of 2021 and more than 20 points from a week ago. As the bond selloff accelerated, investors appeared to discount Fed Chairman Jerome Powells soothing words about inflation from earlier this week and took things into their own…

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