Chair Powell curbs market’s hopes of an initial interest rate cut next month, triggering a U.S. Treasurys selloff that pushed yields higher. The dollar also rises. “We’re not quite there is what Chair Powell is telling us,” AmeriVet’s Gregory Faranello says in a note. “It’s a long year ahead.” The 10-year Treasury yield gains 0.133 percentage point to 4.163% and the two-year rises 0.102 p.p. to 4.470%. Meanwhile, the WSJ Dollar Index rises 0.4% as the greenback strengthens 0.8% versus the pound, 0.4% versus the euro and 0.2% against the yen.

By: Paulo Trevisani