10-year Treasury yield rises to its highest level since November 2018

The 10-year U.S. Treasury yield hit 3.17% on Monday morning, as investor focus remained on inflation and economic slowdown concerns. The yield on the benchmark 10-year Treasury note climbed 4 basis points to 3.1726% at 4 a.m. ET. The yield on the 30-year Treasury bond moved 4 basis points higher to 3.2659%. The 10-year rate reached the 3% mark at the beginning of last week, for the first time since 2018, and had hit 3.14% by Friday. The Federal Reserve announced a 50-basis-point interest rate hike on Wednesday but the central bank’s efforts to combat rising inflation with more aggressive rate raises has also sparked concerns that this could potentially drag on economic growth. Investor focus this week will be on April inflation data, due out on Wednesday.
Source: Bonds