Treasury Yields Hit 2002 Highs Amid Rate Doubts
Treasury yields reached their highest levels since 2002 at the close of a brutal third quarter for bonds. Meanwhile, consumer confidence plunged and Federal Reserve officials questioned the necessity of an October rate hike.
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United States 10-year Treasury yields jumped 82 basis points in the third quarter, marking the biggest quarterly increase in four years. The surge came despite weakening consumer confidence and softening labor market indicators. Investors now weigh whether aggressive policy tightening has peaked as the fourth quarter begins.
