10-year Treasury yield highest since July 2007
The yield on the ten-year United States Treasury note on Wednesday jumped to a level last seen in July 2007 following the Federal Reserve's revised projections for the next year. The policymakers underlined that the federal funds rate is likely to stand at between 5% and 5.25% by the end of 2024, which is higher than projected back in June.
The return on the 10-year Treasury note grew 3.5 basis points to 4.593% at 12:14 pm ET. The yield on the two-year note was up 3.9 basis points to 5.114% at the same time. The return on the 30-year bond went up by 1.4 basis points to 4.710%.