10-Year Treasury Yield Jumps to 19-Year High Amid Inflation Worries
New services and manufacturing data stoked concerns about further Federal Reserve rate hikes, pushing yields sharply higher.
The yield on the 10-year US Treasury note rose sharply on Wednesday, climbing to its highest level in 19 years, as new economic data heightened concerns about further interest rate increases from the Federal Reserve.
Newly released services and manufacturing sector data contributed to the move, adding to worries among investors about persistent inflationary pressure and the possibility of additional monetary tightening by the Fed.
Rising Treasury yields typically reflect investor expectations of higher interest rates or inflation, and sharp increases can ripple through borrowing costs across the broader economy, including mortgages and corporate debt.
Markets continued to monitor incoming economic data for further signals on the Federal Reserve's policy path in the coming months.
Sources
EGazette summarizes reporting from multiple sources; follow the links for the originals.
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