Treasuries Fall as Inflation Data Erode Fed Rate-Cut Wager

Treasuries fell as quickening inflation stemming from the US war on Iran and the prospect of escalation eroded wagers that the Federal Reserve will lower interest rates once this year. The rise in yields began in early US trading after the release of consumer prices data for March the first to reflect the impact of the war. Yields extended their climb to as much as five basis points after midday after US President Donald Trump threatened to escalate the war if weekend talks failed. Jared Bernstein, distinguished policy fellow at the Stanford Institute for Economic Policy Research/Former-Chair of the White House Council of Economic Advisers under President Joe Biden joins to discuss.