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10-year Treasury yield climbs to highest level in almost two months as medium-term inflation expectations grow
The benchmark 10-year Treasury yield climbed on Wednesday to as high as 3.12%, the highest level since July 28, as medium-term inflation expectations continue to rise. The rise in those expectations was spilling over into nominal Treasury yields, according to Steve Englander of Standard Chartered Bank, with rates across the curve all moving higher. “The market has become more pessimistic on the Fed hitting inflation goals, despite the hawkish rhetoric,” he said.
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