Treasury Yield Climbs as Hawkish Fed Comments Reignite Rate Hike Speculation

The US 10-year Treasury yield rose by about 3 basis points to 4.98% on Tuesday, following hawkish comments from Federal Reserve officials.

Chicago Fed President Austan Goolsbee said that the central bank cannot overlook persistent supply shocks, while St. Louis Fed President Alberto Musalem suggested additional rate increases may be necessary to bring inflation toward the Fed's target.

The market is now awaiting speeches from Fed officials John Williams and Tom Barkin later today.