US 10-Year Yields Hit Highs on Buyback
Benchmark 10-year Treasury yields reached their highest levels since 2023 after an enlarged bond buyback disappointed some investors. Yields later retreated following strong demand for a note sale as markets awaited upcoming inflation data.
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Benchmark 10-year Treasury yields rose 3.06 basis points to 4.835% on Wednesday, hitting their highest level since November 2023. The surge followed a smaller-than-expected Treasury buyback announcement that initially disappointed bond investors.
