U.S. 10-Year Treasury Hits 19-Year High
The yields on 10-year U.S. Treasury bonds rose to their highest level since 2007, reaching 5.058%, after data showed accelerated activity in the services and manufacturing sectors in the United States. These figures increased the likelihood of the Federal Reserve raising interest rates in October to 64%. The rise in yields and statements from officials reflect ongoing pressure on the bond market and the possibility of continued restrictive policies to combat inflation.
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