US 10 Year Yield Reaches Four Year High

U.S. government debt yields notched new highs Thursday amid of a slew of new economic data that provided more evidence of inflation pressure.

The yield on 10-year U.S. Treasury touched a fresh four-year high of 2.944 percent, above the levels which sparked a stock market sell-off in recent weeks. The 2-year Treasury yield hit a high of 2.213 percent, its highest level since September 2008, when the 2-year yielded as high as 2.217 percent.

The 5-year yield also hit a high, touching 2.687 percent, its highest level since April 2010 when the 5-year yielded as high as 2.702 percent.

The yield on the benchmark 10-year Treasury note slipped from its highs to 2.904 percent at 9:23 a.m. ET, while the yield on the 30-year Treasury bond also off session highs at 3.148 percent. Bond yields move inversely to prices.

The rise comes amid inflation data, which showed that the producer price index (PPI) increased 0.4 percent last month, with core PPI — excluding volatile food and energy prices —also up 0.4 percent, according to the Labor Department.

via CNBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza