Investors are signaling the Federal Reserve will cut interest rates just twice this year, starting in September, after a fresh round of hot inflation sent Treasury yields soaring to 2024 highs. In yet another revision of bets on when the US central bank will ease monetary policy, swap contracts indicated the Fed’s benchmark rate will end the year only about 40 basis points lower than the current 5.33%. Options traders added bets on the Fed cutting just one time this year. Yields across the maturity spectrum were up by at least about 13 basis points on the day, with the policy-sensitive two-year yield climbing as much ... (full story)