Forex
Treasury Yield Hits 24-Year High Above 5.30% Amid Economic Resilience
The US 10-year Treasury yield has hit a 24-year high above 5.30%, driven by resilient economic data, energy-driven inflation concerns, and rising fiscal debt.
The benchmark yield climbed to 5.31% in afternoon trading, surpassing its previous peak from 2007.
The longer-dated yields rose more sharply than short-term rates, reflecting continued pressure on the longer end of the Treasury market.
Market expectations for another Federal Reserve interest rate increase at the Oct. 28-29 Federal Open Market Committee meeting fell after the latest inflation data.