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10-year Treasury yield reaches highest level since 2007
The 10-year Treasury yield soared past 5% on Tuesday, marking its highest level since 2007, just one day ahead of the Federal Reserve's looming decision on interest rates. The yield rose five basis points to 5.04%, driven higher by a surge in oil prices, as escalating Middle East tensions heightened the risk that higher energy costs could add to inflationary pressures. Markets are now pricing in a 90% chance that the Federal Reserve will raise interest rates at its policy meeting this week.
The 10-year U.S. Treasury yield surged above 5% Tuesday, reaching its highest level since 2007 as investors confronted a combination of rising oil prices, renewed inflation concerns and expectations for another Federal Reserve rate increase. The benchmark...
