Speculators turned net bearish on U.S. 10-year Treasury note futures in the latest week after Federal Reserve Chair Janet Yellen signaled the central bank would raise interest rates gradually, according to Commodity Futures Trading Commission data released on Friday. "Given the risks to the outlook, I consider it appropriate for the Committee to proceed cautiously in adjusting policy," Yellen said of the Fed's policy-setting Federal Open Market Committee on Tuesday.
Her remarks to the Economic Club of New York led some traders to bet the Fed might allow inflation to run above the Fed's 2-percent goal. If it were so, this would make longer-dated Treasuries less profitable because higher inflation would erode their return. The amount of speculators' bearish, or s...
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