10-year Treasury yield tops 4.9%, highest since 2023, as oil surge raises inflation fears
The 10-year U.S. Treasury note yield — the key benchmark for mortgage borrowing, auto loans and credit card debt — was up 1.7 basis points at 4.857%. The 2-year Treasury note yield, which is typically more sensitive to short-term Federal Reserve interest rate decisions, increased 1 basis point to 4.436%. The longer-dated 30-year Treasury bond yield, which moves in line with broader geopolitical risks, was up more than 2 basis points at 5.307%. One basis point is equal to 0.01%, and yields and prices move in opposite directions. U.S. yields increased on Wednesday, after Treasury Secretary Scott Bessent said the department will buy back $6 billion [...]