Two-year US Treasury yields climb to new high

LONDON: US two-year Treasury yields climbed to their highest level since early 2019 on Monday, continuing to push higher on expectations that the Federal Reserve will deliver bigger rate hikes in the months ahead to tame inflation.

US bond yields were higher across the curve, with two-year yields rising to as high as 2.495%.

A closely-watched part of the yield curve, the gap between 2 and 10-year bond yields remained inverted and was last at mints 6.75 basis points.

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Friday’s strong jobs report for March supported the view that the Fed will need to aggressively hike rates to stem soaring inflation and a tight labor market.