U.S. Treasury Yields Climb After April Inflation Is Higher Than Expected

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Data come as an unwelcome surprise to investors, who appeared in recent days to be warming to bonds again

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In recent trading, the yield on the benchmark 10-year US Treasury note was 3.028%, according to Tradeweb, up from 2.946% right before the data release and 2.990% at Tuesday’s close.

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The two-year yield, more sensitive to the near-term outlook for interest rates set by the Fed, jumped to 2.713% from 2.608% before the data and 2.623% Tuesday.

Wednesday’s data came as an unwelcome surprise to investors, who appeared in recent days to be warming to bonds again after a brutal several months marked by escalating concerns about inflation and the Federal Reserve’s response.

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The 10-year yield had settled Friday at 3.124%, its highest close since November 2018 and near its highest level in more than a decade. It then fell earlier this week, amid sharp declines in riskier assets and hopes that inflationary pressures might be easing.

Write to Sam Goldfarb at [email protected]

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Credit: www.Businesshala.com /

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