10-Year Yields Climb to 4.97%, Near 5% — SkimNews
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- 10-year Treasury yields rose 19 basis points this week to 4.97% on Friday, reaching their highest level since 2023 and approaching the highest since 2007
- Bond bears are pushing benchmark Treasury yields toward the closely watched 5% threshold ahead of US inflation data
- The 5% level may attract dip buyers but also risks triggering further selling that could spill over into global bond markets
- The selloff hinges on upcoming US inflation data, which will determine expectations for a Federal Reserve rate hike at next week's meeting
Why it matters: Treasury yields at 4.97% put the 5% level within reach, a psychological threshold that risks further selling with spillover into global bond markets. With the Fed's rate decision next week hinging on the upcoming inflation print, long-dated debt is repricing ahead of the data.
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