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US 10-year Treasury yield jumps to 2-year high, topping 1.83%
The yield on the benchmark 10-year Treasury note soared 5 basis points to 1.8305% at 3:40 a.m. ET. The yield on the 30-year Treasury bond climbed 3 basis points to 2.1492%. Meanwhile, the 2-year rate topped 1% for the first time in two years, hitting 1.0364%. Yields move inversely to prices and 1 basis point is equal to 0.01%. The move, which comes after a market holiday in the U.S. Monday, indicates that investors are preparing for the possibility of more aggressive tightening by the Federal Reserve.Last week, Fed Chair Jerome Powell told the U.S. Senate that he expected to see a series of interest rate hikes this ... (full story)