Treasury yields climbed and stocks struggled after solid economic reports reinforced the case for the Federal Reserve to keep interest rates higher for longer.
Two-year US yields hit the highest since 2006, while those on 10-year notes jumped 13 basis points to 4.83%. Swap contracts tied to Fed rate decisions showed traders are pricing in more than 60% odds that policymakers will raise interest rates by another quarter percentage point in January after holding steady in November. A move in December is considered possible, but less likely than January.
The S&P 500 erased gains, led by losses in its most-influential ...
