US Treasury yields rise as Trump favours Taylor - UOB

Analysts at UOB Group explained that US Treasury yields rose on Monday.

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US Treasury yields rose on Monday after a report that President Donald Trump was favoring Stanford economist John Taylor to head the Federal Reserve, and Fed Chair Janet Yellen’s weekend comments that the economy remained strong.

Yields for the 2-year note, most affected by expectations for Fed rate hikes, rose to 1.546%, the highest since November 2008. The 10-year yield ended the session around 2.31%.