The benchmark 10-year U.S. Treasury yield rose Monday to a level not seen in more than three years, as traders continued to assess rising inflation.
The yield on the 10-year Treasury note rose 5 basis points to 2.8662% by 3 a.m. ET, a level last seen in late 2018. The yield on the 30-year Treasury bond jumped 2 basis points to 2.9424%. Yields move inversely to prices and 1 basis point is equal to 0.01%.
Investors continue to assess inflationary pressures. Last week, the U.S. Census Bureau reported a 0.5% gain in March, a little less than the 0.6% gain expected by the Dow Jones. The biggest driver of sales came from gas stations. On Wednesday, the Bureau of Labor Statistics reported that the March producer price index, which tracks prices paid by wholesalers, rose 11.2% on the previous year, its biggest gain since 2010.
That reading came a day after the latest consumer price index, which showed prices inflated 8.5% in March from the same time last year, its biggest increase since 1981….
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2022-04-18 07:01:55
