The FRED graph above shows the daily yield on 10-year U.S. Treasuries since the beginning of 2013. On May 22, 2013, Federal Reserve Chair Ben Bernanke announced that the Fed would start tapering asset purchases at some future date, which sent a negative shock to the market, causing bond investors to start selling their bonds. (See the dotted vertical line in the graph.) As a result, the yield on 10-year U.S. Treasuries rose from around 2% in May 2013 to around 3% in December. This sharp climb in yields is often referred to as the “taper tantrum.” In late July 2021, Federal Reserve officials signaled that the Fed ... (full story)