10/3/2023, 2:57 PM (Source: TeleTrader)
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Ten-year Treasury yield at 16-year high

The benchmark 10-year United States Treasury yield continued to rise on Tuesday and reached the highest point since the summer of 2007.

The renewed surge in US bond yield follows a string of data that showed that the economy is still resilient and that it may take more interest rate hikes to finally bring inflation down to the Federal Reserve's 2% goal.

The return on the 10-year Treasury note rose by 3.9 basis points to 4.722% at 8:55 am ET. The yield on the two-year note increased by 0.1 basis points to 5.113% at the same time. The return on the 30-year bond jumped 5.5 basis points to 4.851% at 8:56 am ET shortly after reaching a high last seen in 2007.

Baha Breaking News (BBN) / MS