Jamie Chisholm is a markets reporter based in London.
Treasury yields rose on Monday, as the recent rally in prices faded with the prospect of interest rates remaining elevated weighing again on the bond market.
The benchmark 10-year Treasury yield touched a 16-year high around 4.88% on October 4th as investors bet that stronger-than-expected U.S. economic data would encourage the Federal Reserve to raise interest rates further. A touch of that latter move was being unwound further on Monday, with perhaps some haven flows pulled out of sovereign bonds after Israel did not begin its full ground offensive into Gaza over the weekend.
The chances of a 25 basis point rate hike to a range of 5.50 to 5.75% at the subsequent meeting in December is priced at 30%.
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