Treasuries Fall as Investors Bet Against Fed Rate Cuts
Treasury notes fell on Thursday amid signs that the Federal Reserve will soon hold off on further interest rate cuts.
Two year treasury notes fell 10/32 in price to yield 2.403 percent. Ten-year notes fell 25/32 in price to yield 3.835 percent.
Futures traders are betting that the central bank will lower its benchmark rate by 25 basis points to 2 percent when it meets on April 30.
Futures contracts on the Chicago Board of trade show there is an 82 percent chance of a quarter point interest rate cut. Bets for a half point cut are zero.
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