Benchmark Treasury yield hits 3-yr high; US dollar posts weekly gain
The U.S. Treasury 10-year yield hit a three-year high above 2.7% on Friday while the U.S. dollar index posted its largest weekly percentage gain in a month, helped by the prospect of more aggressive Federal Reserve tightening.On Wall Street, the S&P 500 and Nasdaq ended lower in choppy trade as investors assessed the economic outlook with the Fed moving to fight inflation. This week’s release of minutes from the Fed’s March meeting showed “many” officials were prepared to raise rates in 50-basis-point increments in coming months.The dollar index advanced to 100 for the first time in nearly two years. It rose
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