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10-Year Treasury Yield Tops 4% for First Time Since November

 U.S. government bonds prices have been hit by inflation, fears of persistent high rates

Bets that inflation would rapidly decline had stalled a yearlong bond rout in November and powered a rebound in stocks. But price pressures have lingered, pushing the Fed toward holding rates higher for longer than traders had expected.

The Fed’s rate target, now at 4.5% to 4.75%, is approaching the 5% level that officials thought as recently as December would be high enough to control inflation. 

But the latest economic data have indicated that isn’t happening yet.

Matt Grossman WSJ 1 March 2023 16:51 CET


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