The yield on the U.S. 10-Year Treasury note hit its highest level since July on Thursday and could top 2% if the current stock-market rally continues.
- The yield has been rising steadily since Sept. 3 as investors began to bet that a portion of the trade dispute will be resolved soon and as data has continued to suggest U.S. job growth and consumer spending are both strong. The S&P 500 Index is up nearly 5.7% since the end of August and hit a new intraday high of 3,097.77 at Noon ET Thursday.
- After the last Fed rate cut on Oct. 30, Fed Chairman Jerome Powell suggested the central bank would hold rates steady unless a crisis erupts.
