Fed’s hawkishness sparks mini sell-off

April 04, 2012 12:00 AM

Those European corporate bond specialists not already on the ski slopes can put their feet up on their desks for the rest of this week. The minutes of the US Federal Reserve’s March meeting, showing a strong vote against further quantitative easing, knocked US stock markets on Tuesday and kicked Treasuries where it hurts. The 10 year yield leapt 14bp to 2.30%, though it has since moderated about 4bp.

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