Fed hawks push yields higher, stocks give back gains

July 31 : Stocks were mixed on Friday, giving back much of their earlier gains, while longer-dated Treasury yields pushed to new multi-year highs, after several Federal Reserve officials argued that further interest rate hikes are needed to combat inflation.Currency markets also stayed on alert for further intervention, a day after Japanese authorities stepped in to support the yen, according to a market source.Three Fed policymakers who had dissented in favor of a rate hike at this week's meeting made their case publicly on Friday for higher rates. The Fed kept rates unchanged — a widely expected outcome that aligned with market pricing, which had priced in roughly a one-in-three chance of a hike.Dallas Federal Reserve President Lorie Logan said on Friday that without "modest action in th