Rate Hike Hopes Lifted Yields to 3-Year High, Failed to Boost USD

Robust US data anchored expectations of a March rate hike and a total of three rate hikes this year. While this lifted yields, sending 10-year Treasury yields further higher, it failed to boost the greenback. In the Treasury market, 10-year yields soared +6 bps to 2.77%, the highest level since April 2014, while that on two year notes climbed +2 bps to 2.16%.

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