U.S. 10-year Treasury yields hit 5%
The yield on the 10-year U.S. Treasury bonds jumped to its highest level in several years, exceeding 5%, as markets awaited the Federal Reserve's decision on interest rates this week. The yield on 2-year bonds also reached 4.6%, while the 30-year bonds stood at 5.4%. This comes amid inflation remaining above the Federal Reserve's 2% target, with a 90% chance of a 25 basis point rate hike. These developments followed the release of August's Consumer Price Index data, which confirmed the persistence of high inflation and influenced monetary policy expectations.
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