Treasuries hold losses following global selloff
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Bonds maintained losses as US stocks struggled on October 23, 2024; traders are reconsidering the pace of Federal Reserve rate cuts amid a robust US economy; Treasury 10-year yields reached 4.21%, the highest since July; Wall Street is reducing bets on aggressive policy easing; Citigroup strategists noted that S&P 500 exposure is at levels that preceded a 10% slump; Texas Instruments and Starbucks reported downbeat outlooks; Tokyo Metro Co. raised ¥348.6 billion ($2.3 billion) in Japan's largest IPO since 2018; the IMF warned of high uncertainty due to the upcoming US election; Fed officials signaled a preference for slower rate reductions; two-year yields have climbed 34 basis points since the Fed's first rate cut on September 18, 2024.

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