10-year Treasury yield reaches highest level since 2007
Benchmark bond yields rose to fresh 14-year peaks as investors continued to fret about stubbornly robust inflation and the higher borrowing costs required to defeat it.
The monetary policy-sensitive 2-year Treasury yield has jumped more than 380 basis points since the start of the year in response to the Fed’s attempts to push inflation back down to it’s 2% target. An update on the U.S. labor market will come at 8:30 a.m. when the weekly initial jobless claims data are released. October Philadelphia Fed manufacturing index is also due at 8:30 a.m. September existing home sales and leading economic indicators will be published at 10 a.m. All times Eastern.
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