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10-year Treasury yield hits highest level since 2007
U.S. Treasury yields climbed on Monday as investors remain concerned that interest rates could remain higher for longer than expected. The yield on the 10-year Treasury was up by more than 9 basis points at 4.35%, trading near levels last seen in 2007. The 2-year Treasury yield was trading over 6 basis points higher at 5%. Yields and prices move in opposite directions. One basis point equals 0.01%. Investors await a series of comments from Fed policymakers, including Chairman Jerome Powell, ahead of and during the central bank’s annual Jackson Hole symposium, which begins Thursday. Many are hoping for fresh clues ... (full story)