U.S. Treasury yields wavered early Wednesday as investors remained cautiously optimistic that recent banking turmoil has settled.
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“Markets have been processing a flurry of news from the global banking sector in recent weeks, along with what the latest round of interest rate hikes from the U.S., U.K. and EU mean for those economies.
“The shift to higher interest rates that we’ve seen over the last week reflects the concerns around the banking system subsiding – and also an increased awareness that the Fed is unlikely to be cutting rates in 2023,” said Phillip Nelson, director of asset allocation research at NEPC.”
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