Western Asset Management faces mounting pressure as institutional investors continue to pull their funds in the wake of a federal fraud investigation.
Treasury Secretary Scott Bessent said that any move to boost the share of longer-term Treasuries in government debt issuance is some ways off.
Fed officials last month pointed to rising risks that inflation could worsen, a key reason they kept their benchmark interest rate unchanged.
The bosses of the biggest banks on Wall Street all got pay bumps, but the biggest raise belonged to Citigroup (C) CEO Jane Fraser.