Jerome Powell, chairman of the U.S. Federal Reserve.
Bond investors' concern over a potential U.S. recession deepened after Federal Reserve Chair Jerome Powell signaled that policymakers may keep pushing interest rates higher.
Yields on 2-year Treasuries exceeded those on 10-year notes by as much as 1 percentage point on Wednesday, after short-term rates climbed following Powell's testimony in Congress. The 2-10 segment of the yield curve—which has inverted before each of the past five U.S. recessions—is now the most inverted since March.
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