The 10-year Treasury yield surpassed 4.2% following the remarks of Fed officials.
On Tuesday, the U.S. gained ground after Federal Reserve officials advised caution on the path of interest rate cuts.
The 10-year Treasury yield increased by 2 basis points to 4.2036%, surpassing 4.2% for the first time in three months, following a 12-basis-point jump on Monday.
The 2-year Treasury yield increased by 2 basis points to 4.0431%.
Prices and yields move in opposite directions, with one basis point equal to 0.01%.
This week is relatively calm on the data front, but there is a lot of Federal Reserve commentary, with several policymakers giving speeches.
While Neel Kashkari, President of the Minneapolis Fed, stated that the long-term trajectory for rates may be higher than in the past, Lorie Logan, President of the Dallas Fed, emphasized the need for a patient approach to lowering rates.
On Monday, Jeff Schmid, President of the Kansas City Fed, advised a "cautious and deliberate" approach to rate cuts following the Fed's 0.5 percentage point reduction in September.
Philadelphia Fed President Patrick Harker is due to speak Tuesday.
Markets
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