Treasuries Selloff Ripples Through World Markets After Jobs Data
- 10-year yield holds near 4.8%, highest level since 2023
- Repricing in Fed rate path drives US dollar to a two-year high
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Treasuries extended their drop after Friday’s strong employment report strengthened speculation that the Federal Reserve is poised to pause its interest-rate cuts for virtually all of this year.
Yields on benchmark US 10-year rose on Monday to as much as 4.8%, the highest since late 2023 and capping a more than percentage-point jump since mid-September. Meanwhile, the 30-year yield headed back toward 5% after breaching that level on Friday for the first time in more than a year.