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10/2/2023, 7:24 PM (Source: TeleTrader)
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Ten-year Treasury yield again hits 2007 high

The yield on the benchmark 10-year United States Treasury note on Monday again was the highest since 2007.

Bond trading was seemingly affected by manufacturing reports that beat estimates and that also apparently made market participants expect more interest rate increases by the Federal Reserve, which could also keep them at restrictive levels for longer than expected.

The return on the 10-year Treasury note moved up 10.8 basis points to 4.676% at 1:19 pm ET. The yield on the two-year note advanced six basis points to 5.106% at the same time. The return on the 30-year bond rose by 8.3 basis points to 4.792% at 1:21 pm ET shortly after reaching the strongest level since 2010.

Baha Breaking News (BBN) / MS