Traders expect 4 US Federal Reserve hikes by June 2027
Business
Traders are betting the US Federal Reserve will hike interest rates four more times by June 2027, pushing borrowing costs to their highest in years.
The latest 0.25% increase is already making waves, with markets quickly reacting to a tougher economic climate.
US Treasury yields reach 2007 levels
Bitcoin has slipped under $83,000 after peaking at $87,500, while gold, though still above $4,200, has dropped since January.
US Treasury yields are now at levels last seen in 2007, strengthening the US dollar and raising borrowing costs worldwide.
That's put extra pressure on global currencies like the Japanese yen and is making things pricier for anyone dealing with loans or investments.