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04 Mar 2021 | 18:06

Fed's Powell says he would be concerned if financial conditions tighten

(Sharecast News) - Longer-term US government debt yields extended their recent rebound even after Federal Reserve chief, Jerome Powell, said he was monitoring their rise. In remarks at an event hosted by the Wall Street Journal, Powell reportedly also said that he would be concerned by financial conditions in the economy did tighten as a result of rising Treasury yields.

Against that backdrop, as of 1802 GMT the yield on the benchmark 10-year US Treasury note was trading five basis points higher at 1.54%, alongside a 1.1% drop on the S&P 500 to 3,778.4 while the Nasdaq Composite was off by 181% at 12,762.15.

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