Fed's Bostic: Fed not expected to have to do much in response to yields

Atlanta Federal Reserve President Raphael Bostic said on Tuesday that he does not anticipate the Federal Reserve will have to do much in response to rising US Treasury bond yields, as reported by Reuters.

"Bankers are saying that credit market risk is low with repayment far better than expected when the pandemic began," Bostic further noted.

Currently, the 10-year US Treasury bond yield, which touched its highest level in more than a year at 1.774% earlier in the day, is up 1% at 1.731%.

Market reaction

The US Dollar Index largely ignored these comments and was last seen rising 0.37% at 93.28.