US Treasury Yield Hits 19-Year High Amid Fed Rate Hike Expectations

The US Treasury yield has reached its highest level in nearly two decades, staying above 5.2% since July 2007.

This comes as expectations grow that the Federal Reserve will continue to tighten monetary policy to combat inflation.

Data released last Friday showed a significant increase in business spending and consumer sentiment survey confirming higher inflation expectations.

Markets are currently pricing in a 66% probability of a Fed rate hike in October, with investors awaiting key US jobs data this week for further guidance.