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US 10-year yields reach 5%, highest since 2023
NEW YORK: Benchmark 10-year U.S. Treasury yields climbed above 5% on Monday, the highest level since October 2023 and a closely watched psychological threshold that analysts say could ripple through the U.S. economy and threaten the bull market in stocks by denting the relative appeal of U.S. equities. Yields have surged as traders price in the possibility that the Federal Reserve will need to keep interest rates higher for longer, after a jump in oil prices revived fears of renewed inflation pressure. Price pressures have already been running well above the central bank’s 2% annual target. Th...
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