US 10-year Treasury yield hits 19-year high with Fed decision eyed
NEW YORK — U.S. Treasury yields rose on Tuesday, with the benchmark 10-year Treasury note yield hitting its highest level since July 2007 as investors brace for what may be the first in a series of rate hikes from the Federal Reserve as it tries to tamp down inflation pressures. Bond markets around the globe saw yields rise, in part due to continued pressure from rising oil prices, which have…
U.S. Treasury yields surged on Tuesday, reaching their highest level since July 2007, as investors anticipate potential rate hikes by the Federal Reserve to combat inflation. Bond markets worldwide experienced a rise in yields, partially due to the persistent impact of surging oil prices, which have increased expectations for global central banks to increase interest rates.
The yield on the benchmark U.S. 10-year Treasury note climbed 4.7 basis points to 5.008 percent, after reaching 5.041 percent, its highest since July 19, 2007. It is on track for its sixth consecutive increase in the past seven sessions. The Telegraph reported that the Bank of England might announce this week that it would cease selling long-dated government bonds to provide cash to the government.
Crude prices had climbed approximately 2 percent as supply concerns heightened following attacks on Saudi Arabian energy infrastructure, which left the kingdom's East-West Pipeline offline, further fueling gains amid Libya's potential declaration of force.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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