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10/18/2023, 5:58 PM (Source: TeleTrader)
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US Treasury yields rise on interest rate concerns

Yields on the United States Treasury bonds climbed on Wednesday due to growing concerns about the Federal Reserve's monetary policy outlook. It appears that the latest economic data might suggest that there could be more room for the central bank to raise its interest rates once again before the end of the year.

In the coming hours, the Federal Reserve's Beige Book will be released, which could shed more light on the monetary policy going forward.

The return on the 10-year Treasury note jumped by 7 basis points to 4.915% at 11:52 am ET, reaching its new highest value in 16 years. The yield on 30-year bond went up by 7.2 basis points to 5.023% and hitting the level not seen since 2007. At the same time, the return on the two-year note advanced by 2.4 basis points to 5.238%, highest since 2006.

Baha Breaking News (BBN) / AB