Bond yields snapped higherin a sell-off fueled by stronger-than-expected U.S. economic data, and the expectation that central banks are moving into an era when policy will no longer be so easy and interest rates will head higher.
Treasury yields move opposite price, and the 10-year yield was as high as 2.47 percent Wednesday, the highest since March. At the heart of the sell-off was speculation that President Donald Trump’s pick for Fed chair could be the most hawkish choice, Stanford University economist John Taylor.
