Off The Wire
Rising yields suggests uncertainty over U.S. growth: Fed's Kaplan
NEW YORK (Reuters) - The recent jump in U.S. bond yields suggests there is uncertainty among investors over future economic growth prospects, Federal Reserve Bank of Dallas President Robert Kaplan said on Tuesday.
The 10-year Treasury yield, which reached a fresh multi-year high on Tuesday, is “telling me that prospects for future U.S. growth are somewhat sluggish (and) that outward growth is looking a little more uncertain,” he said at the Economic Club of New York.
U.S. treasuries have been sold off recently as strong data fueled fears about rising inflation and a potentially faster pace of rate increases by the Fed.
Reporting by Jonathan Spicer