TechFlow News: On March 19, according to JINSHI Data, U.S. Treasury prices fell. Following the Bank of England’s statement that it stands ready to act against inflation, traders have abandoned expectations of a U.S. rate cut this year. This move pushed yields across all maturities higher, with the two-year U.S. Treasury yield—the most sensitive to Federal Reserve policy shifts—rising 13 basis points to 3.9%. Bond traders have fully withdrawn their expectations for a U.S. rate cut in 2024; some are even beginning to hedge against potential rate hikes in the coming months. Tom Di Gallo, Managing Director at Mishler Financial Group, stated: “This is all driven by the Bank of England’s interest-rate decision, as markets now anticipate a 50-basis-point hike by the bank in 2026. European bond markets are plunging sharply, which in turn is pushing up U.S. yields.” He noted that fund flows are determined by a lack of buyers—“primarily selling pressure”—and that market sentiment is largely shaped by expectations of prolonged conflict: “The prevailing view is that this Iran-related conflict may last for months rather than weeks.”
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