- The 10-year Treasury yield rose 1 basis point to 4.81%, while the 30-year yield gained 2 basis points to 5.286%.
- Investors demanded a higher premium on medium- and long-term government debt as Middle East tensions renewed concerns that inflation will remain entrenched.
- The 2-year Treasury yield held near 4.4%, showing the move was concentrated in longer maturities.
Quotes
“Investors are now staring directly into the eyes of an inflation monster that threatens to become stronger unless action is taken.”
“Bonds are reaching the point where certain investors may seek to lock in high yields caused by the latest market volatility.”