10-Year Treasury Yield Tops 4% for First Time Since November
Lingering inflation and fears of higher interest rates lifted the 10-year Treasury yield above 4% on Wednesday, marking a fresh acceleration for a historic bond-market rout. The climb carried the key measure of borrowing costs back toward the decade-plus highs reached last year. Spurring the most recent leg: a run of strong economic data that dashed hopes inflation will rapidly slow to near the Federal Reserve’s 2% target. Yields topped 4% Wednesday morning after a slightly stronger-than-expected survey of manufacturing activity. Rising yields lift borrowing costs for consumers and companies, and hurt the prices of other investments by offering steady payouts [...]