Hopes of March Rate Hike Lifted as Yellen Sounded Hawkish

Expectations for Fed funds rate hike in March climbed higher in the aftermath of Chair Janet Yellen's testimony. Reactions in the financial markets were further strength in Treasury yields and US dollar. Treasury prices fell, sending yields higher. 2-year yields climbed +2 bps higher to 1.23% and while 10-year yields gained +3 bps to 2.47%.

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Hopes of March Rate Hike Lifted as Yellen Sounded Hawkish