Treasury 10-year yields topped 4% for the first time since November, signaling that the Federal Reserve’s warnings of higher-for-longer rates are finally sinking in.
A selloff in bonds pushed the yield on those notes up as much as 8 basis points Wednesday. Prices have declined for much of the past month as indications of a hot labor market and persistently high inflation had traders amping up bets on additional tightening. The 30-year bond is the only major benchmark whose yield has yet to crack the 4% threshold this year.
