Futures rise as solid China data offsets rate jitters
The main U.S. benchmarks ended February with declines as investors braced for the possibility that the Fed will hike rates more than initially thought on signs of resilience in the economy.
The yield on two-year Treasury notes , which closely track short-term interest rate expectations, rose to 4.83% on Wednesday, having hit a four-month high of 4.86% earlier in the session. "The market is still in a wait-and-see mode. It doesn't know if yields are going to take off and have another huge move higher or if this is just a little counter-trend rally and that's why you see a lot of uncertainty," said Adam Sarhan, chief executive officer of 50 Park Investments.expectations that the Fed will raise rates in coming months to a 5.25%-5.50% range, from the current 4.50%-4.75% range.
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