In New York financial and bond market trading on the 10th, with inflation concerns intensifying due to soaring crude oil prices, the 10-year US Treasury yield, a benchmark for long-term interest rates, briefly reached 4.97%, its highest level since October 2023 and a roughly two-year and eleven-month high. The 30-year Treasury yield also briefly touched 5.37%, a level last seen in June 2007. Pessimism over an early normalization of the Middle East situation remains deeply entrenched, and crude oil futures extended their gains for an eighth straight session that day, with the US benchmark West Texas Intermediate settling at $102.48 a barrel, up $6.43, or 6.69%, from the previous day, marking a roughly four-month high since mid-May.
10-year Treasury yield briefly hit 4.97%, highest since October 2023, driven by oil-spike inflation concerns.
30-year Treasury yield briefly touched 5.37%, a level last seen in June 2007, on inflation worries.
