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US 10-year yield tops 4% as Fed rate cut expectations ease
A gauge of global stocks slipped on Monday and U.S. Treasury yields climbed, with the benchmark 10-year note topping 4% as investors readjusted their views for the path of interest rates from the Federal Reserve. The U.S. 10-year note climbed to 4.033%, its highest level since Aug. 1 and first time above 4% since Aug. 8 after Friday's stronger-than-expected U.S. payrolls report fueled expectations the Fed will dial back its aggressiveness in cutting interest rates. Expectations for a Fed rate cut of 25 basis points (bps) at the central bank's November meeting stand at 84.6%, with the market pricing in a 15.4% chance ... (full story)