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Economy — Banking — Federal Reserve

10-Year Treasury Yield Reaches Highest Level Since 2023

The benchmark yield reached 5.014% before retreating to about 4.947%.

,   and  TIPP Staff
2 min read
Photo by Jorge Salvador / Unsplash

The 10-year U.S. Treasury yield briefly crossed 5% Monday for the first time since October 2023, as investors prepared for this week’s Federal Reserve policy decision.

The benchmark yield reached 5.014% before retreating to about 4.947%. The 30-year Treasury yield also declined to 5.321%, while the two-year yield fell to 4.615%.

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According to the report, persistent inflation, heavy government borrowing and strong Treasury debt issuance are contributing to pressure on longer-term yields. Higher oil prices are adding another potential source of inflation.

Markets are pricing in a 90% chance of a quarter-point rate hike, according to CME Group’s FedWatch tool. Strategist Jay Woods said a hike could already be reflected in asset prices, while leaving rates unchanged could unsettle investors.

Treasury Secretary Scott Bessent’s bond-buyback efforts have had limited impact. Analysts warned that a disorderly surge in yields could create broader financial-market risks, although stocks have so far remained relatively resilient.

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