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The yield on the 10-year US Treasury note hovered around 4.46% on Thursday, after climbing nearly 5 basis points in the previous session. The move followed the Federal Reserve’s decision to leave interest rates unchanged while signaling increasing support for potential rate hikes later this year.
According to the latest projections, half of FOMC members now anticipate at least one additional rate increase. At the same time, the Fed sharply raised its inflation forecasts, citing the economic repercussions of the conflict in the Middle East.
Fed Chair Kevin Warsh refrained from offering explicit guidance on the timing or direction of the next policy move but stressed that inflation has remained above the Fed’s 2% target for several years. He reiterated the central bank’s strong commitment to restoring price stability.
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On the geopolitical front, President Donald Trump signed an interim agreement aimed at ending the war with Iran and reopening the Strait of Hormuz. However, uncertainty persists over whether Iran has yet taken concrete steps to fully restore traffic through the key maritime shipping route.
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