U.S. 10-year Treasury yield reaches highest level since 2002
publishers 39articles 68first reported 23 Sep, 17:07 UTCdeveloping since 1 Oct · 12 editions
The yield on the 10-year U.S. Treasury note rose above 5.34% early Thursday, reaching its highest level since April 2002, before retreating later in the session. CNBC reported that the yield eased to 5.243%, while MarketWatch described buyers stepping back into the Treasury market after the recent rise.
The 30-year Treasury yield also reached a 24-year high before falling more than 2 basis points to 5.613%, according to CNBC. Bond yields move inversely to prices, and one basis point equals 0.01 percentage point. Higher 10-year yields can feed through to borrowing costs on mortgages, auto loans and credit card debt.
The moves came during a broader global government bond sell-off. Japan’s 10-year yield reached its highest level since the mid-1990s, while Germany’s benchmark 10-year yield briefly topped 3.6%, its highest since 2008. Yields also rose in France, Italy and the United Kingdom.
CNBC linked the volatility to concerns about persistent fiscal deficits, above-target inflation and higher central-bank interest rates, as well as turbulent oil markets amid the U.S.-Israel war with Iran obstructing crude exports from the Middle East. Brent crude futures moved back above $100 a barrel Thursday. U.S. stocks dipped as rising Treasury yields outweighed gains in software shares, according to the Honolulu Star-Advertiser.
HOW THIS STORY WAS MADE
Written from 8 articles, 1 with the publisher's own text; 7 independent newsrooms once syndicated copies count as one; this version written 30 h after the record first saw the story; the editor revised it.
- Publishers
- 39
- Source articles
- 68
- Given to the writer
- 8, 1 with the article's own text
- Independent newsrooms
- 7
- This version written
- 30 h after the record first saw the story
- Second model (editor)
- revised
- Publication gate
- passed
- Human review
- none
WHAT THE EDITOR DID
The second model checked the writer's draft against the same sources and changed it before publication. Struck words were in the draft; underlined words are its corrections.
WHAT IT FLAGGED editor revise: Two details should be corrected to match the cited source wording. - "MarketWatch described buyers returning to the Treasury market after the recent rise.": The MarketWatch source says buyers step back into the Treasury market, not that buyers were returning. - "CNBC linked the volatility to concerns about persistent fiscal deficits, above-target inflation and higher central-bank interest rates, as well as turbulent oil markets amid disruption to Middle Eastern crude exports.": The CNBC excerpt links the oil-market disruption specifically to the U.S.-Israel war with Iran, not generally to unnamed disruption to Middle Eastern crude exports.
THE DRAFT AND THE CHANGES
U.S. 10-year Treasury yield reaches highest level since 2002
The yield on the 10-year U.S. Treasury note rose above 5.34% early Thursday, reaching its highest level since April 2002, before retreating later in the session. CNBC reported that the yield eased to 5.243%, while MarketWatch described buyers returningstepping toback into the Treasury market after the recent rise.
The 30-year Treasury yield also reached a 24-year high before falling more than 2 basis points to 5.613%, according to CNBC. Bond yields move inversely to prices, and one basis point equals 0.01 percentage point. Higher 10-year yields can feed through to borrowing costs on mortgages, auto loans and credit card debt.
The moves came during a broader global government bond sell-off. Japan’s 10-year yield reached its highest level since the mid-1990s, while Germany’s benchmark 10-year yield briefly topped 3.6%, its highest since 2008. Yields also rose in France, Italy and the United Kingdom.
CNBC linked the volatility to concerns about persistent fiscal deficits, above-target inflation and higher central-bank interest rates, as well as turbulent oil markets amid disruptionthe toU.S.-Israel war with Iran obstructing crude exports from the Middle Eastern crude exports.East. Brent crude futures moved back above $100 a barrel Thursday. U.S. stocks dipped as rising Treasury yields outweighed gains in software shares, according to the Honolulu Star-Advertiser.
Written by a language model from the sources above, then checked by a second model that may only cut, attribute or correct. How it works →