News Snapshot:
The yield on the US 10-year note was 8 basis points higher to 4.00 per cent at 1.49pm in New York; it earlier briefly traded above 4 per cent for the first time since November. In a post, Atlanta Federal Reserve boss Raphel Bostic said he believes that “inflation remains too high”. “I think we will need to raise the federal funds rate to between 5 and 5.25 per cent and leave it there until well into 2024. This will allow tighter policy to filter through the economy and ultimately bring aggregate supply and aggregate demand into better balance and...
