10-Year Treasury Yield Hits 3% for First Time Since 2018

The worst bond rout in decades hit a new milestone Monday with the yield on the 10-year Treasury reaching 3% for the first time since late 2018. The yield on the benchmark 10-year Treasury note, which rises when bond prices fall, crossed the 3% level ahead of this week’s Federal Reserve meeting, recently trading at 3.002%, according to Tradeweb. A reference for borrowing costs on everything from mortgages to student loans, the yield last closed above 3% in November 2018 and has jumped from 1.496% at the end of last year.
Source: WSJ.com: Markets