US Treasury Yields Hit 24 Year High
US Treasury yields hit a 24-year high as a persistent bond squeeze continued into October. Global stocks settled lower while European bonds also faced heavy selling pressure.
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The United States 10-year Treasury yield climbed to a 24-year high topping 5.3% as the third quarter closed. The quarterly jump in yields was the largest since 1994 despite softer-than-forecast inflation data. Rising long-term borrowing costs continue to pressure global markets.
