Treasury Yields Fluctuate Amidst Market Uncertainty
U.S. Treasury yields were slightly lower as investors remained cautiously optimistic that recent banking turmoil has settled. Markets have been processing a flurry of news from the global banking sector in recent weeks, along with what the latest round of interest rate hikes from the U.S., U.K. and EU mean for those economies. European banking stocks were higher as confidence continued to return to the sector and UBS announced it would bring back former CEO Sergio Ermotti to oversee its acquisition of Credit Suisse.