Global Banking Concerns Drive Treasury Yields Up and Down

U.S. Treasury yields fell as concerns over the global banking system grew once again, making Treasurys more appealing to investors. Deutsche Bank's credit default swaps jumped, raising concerns over the health of the European banking industry. The Federal Reserve announced a 25 basis point increase of interest rates and indicated that its rate-hiking campaign could be paused soon, although its battle with inflation continues. Investors will be looking for further hints about the Fed's policy plans on Friday.