Forex
US Treasury Yield Hits Three-Year High Amid Inflation Concerns
The yield on the 10-year US Treasury note has reached its highest level in three years, rising to 4.812% on Wednesday.
This increase comes after Federal Reserve Chair Kevin Warsh's hawkish comments at Jackson Hole, as well as higher global oil prices and renewed inflation concerns.
Warsh stated that the Fed would have 'a lot of work' ahead if policymakers do not gain sufficient confidence that inflation is moving toward the 2% target.