US 10-Year Yield Hits Highest Since 2007 as Fed Decision Looms Large

The US 10-year Treasury yield has risen to its highest level in almost two decades, reaching a milestone that highlights the ongoing global bond selloff.

This increase is being driven by booming capital investment and soaring energy prices, which are exacerbating inflation. The rising yields are also raising concerns about market risks, particularly with the Federal Reserve's upcoming rate decision on Wednesday looming large.

Dominic Konstam, Head of Macro Strategy at Mizuho Securities, weighed in on the situation, but only provided expectations for the Fed's move and a nod to the rising bond yields. The details are sparse, but the market is certainly watching this closely.