Treasury Yields Surge Amid Bank of Japan and FOMC Decisions
Treasury Yields Surge
Global treasury yields are at the highs of the year as the market focuses on the Bank of Japan decision later and the FOMC decision on Wednesday.
Market Concerns on Bond Buying and Energy Prices
The market is anxious that the BOJ slowing its pace of bond buying will put upward pressure on global yields. Another factor pressing yields higher is energy - with WTI crude oil closing at the highs of the year and ticking higher due to Iraq's reduced exports commitment.
Technically, the February high of 4.354% is a key level to watch as yields are helping to lift the US dollar.
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