“The 25 basis point rise is a done deal. The expectation is that they will signal a pause of the next meeting,” said Luca Paolini, chief strategist at Pictet Asset Management.
The yield on benchmark 10-year Treasury notes rose to 3.8905 percent, compared with its U.S. close of 3.912 percent on Tuesday. The gains were driven by pledges by China’s leadership this week to support the economy through a “tortuous” post-pandemic recovery, but they offered very little detail on specific measures, leading to mixed feelings among investors and economists.
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