US 10-Year Yield Soars to Highest Since 2011 as Bond Rout Rages
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US Treasuries tumbled, sending benchmark yields to the highest level in over a decade amid a global bond rout fueled by concern the Federal Reserve will have to tighten policy aggressively to get a grip on inflation.
The yield on 10-year notes rose 13 basis points to 3.28%, surpassing a peak in 2018 to trade at the highest since 2011. The moves comes after data Friday showed US inflation rose to a fresh four-decade high, surprising the median estimate economists surveyed by Bloomberg.