Business & Economy
10-year Treasury yield leaps to fresh 19-year high after hot economic readings
Treasury yields raced higher on Wednesday as new services and manufacturing sector data increased worry of further Federal Reserve rate hikes. The 2-year Treasury note yield jumped 8 basis points to 4.464%.
AI Summary
Treasury yields surged on Wednesday after fresh services and manufacturing data heightened concerns about additional Federal Reserve rate hikes. The 2‑year Treasury note rose 8 basis points to 4.464%, while the benchmark 10‑year Treasury note jumped 7 basis points to 5.058%, a level not seen since July 2007. The 30‑year Treasury yield also climbed more than 4 basis points, reaching 5.347%. These moves reflect market reactions to the latest economic readings that suggest inflationary pressure may persist.
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