Fed’s Schmid says more rate hikes needed despite higher yields, 10s +3bp · Tue 06 Oct 2026

Treasuries (close 2026-10-05): 2s 4.84% (+1.0bp), 10s 5.31% (+3.0bp), 30s 5.66% (+3.0bp).

Tape (close 2026-10-05): VIX 15.52, 2s10s +47bp.

Narrative: In Big Warning to the Fed, Bond Yields Rise Despite Weak Jobs

What mattered:

• Fed’s Schmid says more rate hikes needed despite higher yields

• Fed's Daly says more hikes may be needed if shocks persist

• Fed's Daly: May result in more tightening required.

• Bessent Axing 20-Year Treasury May Send Yields Higher, BNP Warns

• Trump on Iran: We still have to finish it off