US Treasury Yield Hits 24-Year High Amid Inflation Fears

The US 10-year Treasury yield has reached its highest point since May 2002, climbing to 5.306% in intraday trading.

This increase is largely driven by persistent inflation concerns and rising energy costs, which have investors worried that the Federal Reserve will continue to raise interest rates.

Despite softer-than-expected US inflation data released on Wednesday, traders are still concerned about elevated energy costs feeding into broader inflation.