US 10-Year Treasury Yield Reaches 19-Year High on Inflation

The benchmark 10-year Treasury yield climbed to its highest level since 2007, driven by sticky PCE inflation at 3.7% well above the Fed's 2% target, combined with heavy government bond issuance and AI-fueled equity demand. Rising yields reprices global central-bank rate expectations; traders now watch how other central banks respond to US yield normalization and potential capital flows.