Forex
US Long Bond Yields Soar to 24-Year High Amid Rate Hike Expectations
US long bond yields have surged to their highest level since June 2002, reaching above 5.6% on Tuesday.
The benchmark 10-year Treasury note yield rose by about 1 basis point to 5.253%, while the 30-year Treasury bond yield climbed over 2 basis points higher at 5.585%.
Investors are bracing for more rate hikes, with a 72% chance of another Federal Reserve increase in October, according to the CME FedWatch tool.