US 10-year Treasury yield hits 19-year high with Fed decision eyed
NEW YORK — U.S. Treasury yields rose on Tuesday, with the benchmark 10-year Treasury note yield hitting its highest level since July 2007 as investors brace for what may be the first in a series of rate hikes from the Federal Reserve as it tries to tamp down inflation pressures. Bond markets around the globe saw yields rise, in part due to continued pressure from rising oil prices, which have boosted expectations for central banks around the globe to raise interest rates. The yield on the benchmark U.S. 10-year Treasury note rose 4.7 basis points to 5.008 percent after climbing to 5.041 percent, its highest since July 19, 2007, and was on track for its sixth advance in the past seven sessions. The Telegraph reported the Bank of England was poised to announce this week that it will stop selling long-dated government bonds in order to free up cash for the government. Crude prices were up about 2 percent as supply concerns were elevated after attacks on Saudi Arabian energy infrastructure left the kingdom's East-West Pipeline offline, extending gains after Libya said it may declare force
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