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Two- and 10-year Treasury yields soared to their highest levels since March and April of 2019 after Federal Reserve Gov. Lael Brainard said she expects the central bank’s almost $9 trillion balance sheet to “shrink considerably more rapidly” than in the previous recovery.
What are yields doing?
Market drivers
In a speech on Tuesday, Brainard said that given a U.S. economic recovery “considerably stronger and faster” than in the past, she expects “the balance sheet to shrink considerably more rapidly than in…
