10-year Treasury yield touches new multi-year high above 2.41%
The 10-year U.S. Treasury yield fell slightly on Wednesday morning but hovered above 2.37%, amid concerns about the war in Ukraine and inflation. The yield on the benchmark 10-year Treasury note dipped less than a basis point to 2.3753% at 5 a.m. ET. The yield on the 30-year Treasury bond rose less than a basis point to 2.5932%. Yields move inversely to prices and 1 basis point is equal to 0.01%. The 10-year rate has surged since the beginning of the week, when Federal Reserve Chairman Jerome Powell offered hawkish remarks when discussing how the central bank would combat inflation. Powell [...]