UST10Y Yield Increase Hits SUN Benchmark. Market participants responded negatively to the Fed’s statement that there is considerable room to raise interest rates, with the market expecting it to start in March. Meanwhile, the yield on the 10-year US Treasury surged to 1.866% after Powell’s speech, before finally closing at 1.801% yesterday. Benchmark Government Securities (SUN) recorded a yield increase of between 1.1 bps to 4.2 bps based on Bloomberg data.

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