10-year Treasury yield hits highest level since 2007 as market prices in another Fed rate hike
10-year Treasury yield hits highest level since 2007 as market prices in another Fed rate hike
Source: Yahoo Finance
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DW NOTE
The 10-year at 4.96% is the bond market pricing the Fed's credibility crisis. They held rates at 3.5%-3.75% through a Hormuz closure, $90+ oil, and a $1.4 trillion half-year deficit. One 25bp hike doesn't undo that — it confirms they're behind the curve and Treasury buyers know it.