Treasury yields rose sharply across the board on Wednesday as concerns over a recession spread among investors, with the benchmark yield hitting its highest level since 2008. The yield on the 10-year Treasury climbed to 4.127%, up by about 13 basis points after hovering just below the key 4% level for much of Tuesday. It rose as high as 4.136% during the session, its highest level since July 23, 2008. The policy-sensitive 2-year Treasury yield rose by 11 basis points to 4.55%. … Concerns about a recession have been growing louder among investors as the Federal Reserve continues to follow a hawkish path lined with interest rate hikes. This has begun filtering into earnings projections, with some companies and analysts revising their outlook downward for the coming quarters. A fourth consecutive 75 basis point rate hike is now widely expected from the central bank at their meeting in early November and Fed speakers have suggested that this trend could continue.
Source: CNBC – Bonds
