The Daily Times Newspaper

US Long-Term Interest Rates Above 2 Percent for the First Time in More Than 2 Years

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The US 10-year yield climbed above the 2 percent mark on Thursday. It has been since August 2019 that that limit was reached.

 

Ten-year yields rose above 2 percent just before 5 p.m., according to financial news agency Bloomberg. There is an increase of 6.3 basis points to 2.005 percent. Since the beginning of 2022, there has already been an increase of 50 basis points.

Interest rates are rising now that the US central bank, the Federal Reserve, is expected to raise interest rates more quickly in order to cool the rapidly accelerating inflation.

In addition, the bond market is under pressure as $23 billion worth of new 30-year government bonds will be auctioned on Thursday.

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