U.S. Treasury yields reached fresh multi-decade highs after stronger-than-expected business-spending data reinforced concerns about economic strength and InflationInflation refers to a sustained rise in the general price level that reduces the purchasing power of money. The term belongs in Level 7 because it helps connect macro conditions...Read More. Higher yields could increase borrowing costs and add pressure on financial markets.
U.S. Treasury yields extended their rise after stronger-than-expected business-spending data. Reuters reported the 30-year yield at a fresh 22-year high and the 10-year yield at a fresh 19-year high. New orders for key manufactured capital goods increased more than expected in August and the prior month was revised sharply higher.
