US Two-Year Yield Tops 5%, 10-Year Tops 4%, Nearing 2023 Highs

The US two-year yield topped 5% and the 10-year exceeded 4%, both for the first time since March, after strong private-sector job growth bolstered expectations for additional Federal Reserve interest-rate increases.

(Bloomberg) — The US two-year yield topped 5% and the 10-year exceeded 4%, both for the first time since March, after strong private-sector job growth bolstered expectations for additional Federal Reserve interest-rate increases.

The two-year Treasury yield rose as much as 10 basis points to 5.04%. It peaked this year at 5.08% on March 8 and dropped back toward 3.50% later that month amid a collapse in US regional bank shares after several failed. The US 10-year yield climbed to 4.01%, within 8 basis points of its March high.

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