Treasury Yields Hit Multiyear Highs Amid Rate Hike Fears; Xi Jinping Arrives in D.C.
U.S. Treasury yields surged to multiyear highs as traders priced in the possibility of another Federal Reserve rate hike later this year, driven by strong economic data and comments from Fed officials. The S&P 500 closed at its worst day in over a month while stock futures continued lower on Thursday morning. Chinese President Xi Jinping arrived in Washington D.C., where he was greeted by U.S. President Donald Trump ahead of their summit discussions covering trade, AI, and regional security. Treasury Secretary Scott Bessent mentioned an extended trade truce with China until January 10, though Chinese officials have yet to confirm the details. A federal judge also ruled that a White House ban on journalists from CNN, MS NOW, and Politico was likely unconstitutional, ordering temporary reinstatement of their access for two weeks.
Topics: Federal Reserve inflation concerns stock market performance Treasury yields