Investors fear a government default as early as June 1 if Congress fails to resolve the deadlock. Our calculation shows she's not incorrect," said Steven Ricchiuto, US chief economist at Mizuho Securities USA LLC in New York. "Treasury yields I would argue came down too much too soon." The two-year Treasury yield, which typically moves in step with interest rate expectations, rose 1.2 basis points to 4.024%. The US dollar edged higher against major currencies, with the dollar index up 0.168%.

Source: The Edge Markets May 10, 2023 03:38 UTC