US Treasury Yields (^TNX,^TYX,^FVX) are moving higher as the debate over when the Federal Reserve will cut interest rates continues to heat up amid current market conditions. The US economy shows strength as consumers continue to spend despite inflation, according to March's retail sales data, which could encourage Fed officials to hold off on rate cuts.
Richard Bernstein Advisors Director of Fixed Income Michael Contopoulos joins Yahoo Finance to break down the recent movements in the bond market and the potential for the Federal Reserve to push rate cuts further down the line in 2024, much to the dismay of many Wall Street forecasts.
Contopoulos elaborates on the probability of an interest rate hike: "I put the odds as not so much that I think they will hike, as much as I think that the market will start to price in some probability of a hike. Which is meaningful from a market perspective, both from a credit perspective as well as from an equity perspective. Whether or not they actually get to that point is a different story."
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