Treasury yields fell on Wednesday, January 13, after Federal Reserve officials steered clear of tightening monetary conditions anytime soon despite expectations of higher inflation, while stocks and the dollar edged higher.
The climb in yields is expected to resume, partly due to a massive stimulus package from the incoming administration of Democratic President-elect Joe Biden, who takes office on January 20. The pan-European STOXX 600 index rose 0.11% and MSCI's gauge of stocks across the globe gained 0.28%. The greenback has found support from expectations of a continued economic recovery in the United States, even as countries in Europe resort to lockdowns to fend off a second COVID-19 wave.
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