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Business Maverick: Bonds Extend Drop After Fed Sparks One of Worst Days in Decade

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The U.S. bond market reeled further on Tuesday, extending Monday’s declines after Federal Reserve Chair Jerome Powell’s aggressive rate hike comments drove yields on short-dated Treasuries to one of their biggest daily jumps of the past decade.

Bonds Extend Drop After Fed Sparks One of Worst Days in Decade

Jerome Powell, chairman of the U.S. Federal Reserve, speaks during a Senate Banking, Housing and Urban Affairs Committee hearing in Washington, D.C., U.S., on Tuesday, Nov. 30, 2021. The Federal Reserve chair, in his first public remarks on the omicron variant of the coronavirus, said it poses risks to both sides of the central bank's mandate to achieve stable prices and maximum employment.

 

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