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2-year US Treasury yield tops 4% for the first time since 2007
The yield on the 2-year Treasury note topped 4% for the first time since 2007 on Wednesday as traders bet the Federal Reserve has much further to go in raising rates to fight inflation. The policy-sensitive 2-year Treasury rose 4 basis points to 4.006%, to a level not seen since October 2007. Meanwhile, the yield on the benchmark 10-year Treasury was last at 3.561%, down by roughly 1 basis points, after notching an 11-year high this week. The significant inversion, with short-term rates higher than long-term rates, points to the risk of a recession, some investors believe. Yields and prices move in opposite ... (full story)