Treasury Yields Rise as Hot Economy Fuels Inflation Fears
Dow Jones
Sep 23
1052 ET - Treasury yields reach new highs amid signs that U.S. economic growth is strong, which means the Fed will likely need to raise interest rates to cool down inflation. September PMI readings come in higher than expected for both manufacturing and services, while the OECD boosts its global GDP growth forecast. Economic expansion adds to other forces driving yields higher, Ninepoint's Mark Wisniewski says. They include worries about U.S. government spending, inflation fears and large debt issuance by AI hyperscalers. The 10-year rises to 5.060% and the two-year to 4.868%, both on pace to settle at multi-year highs.
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