Investors React to Fed Speaker Comments and Powell's Remarks, Impacting Treasury Yields and Stocks.

The 2-year Treasury yield remained largely unchanged as investors assessed Federal Reserve Chair Jerome Powell's comments on interest rate policy. Powell suggested that interest rates may not have to rise as much as previously expected due to the turmoil in the banking sector. Meanwhile, New York Federal Reserve President John Williams said that the longer-term trend of interest rates will remain lower, despite raises to curtail inflation. Federal Reserve Governor Michelle Bowman called for a separate third-party study to investigate the failure of Silicon Valley Bank and other regional firms.