10-Year Treasury Hits 2023 High as Oil Hits $105 — SkimNews
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- Treasury yields rose across the curve, with the 10-year note reaching its highest level since 2023 as oil prices jumped to $105 a barrel.
- Investors were awaiting the upcoming wholesale inflation (producer price index) report, the next major catalyst cited for bond market direction.
Why it matters: With the 10-year Treasury at its highest level since 2023 and oil at $105 adding inflationary pressure, the upcoming PPI release will test whether bond investors' rate expectations need to reprice — a move that ripples directly into mortgage rates, corporate borrowing costs, and equity valuations.
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