US 10-year Treasury yield climbs to 4.683%, highest since 2007
Business
The latest US Treasury auction saw 10-year note yields climb to 4.683%, the highest yield for the benchmark securities since 2007.
This slight jump above expectations hints that investors want better returns, especially with inflation sticking around and government debt rising.
Up next: a big 30-year bond sale, which could see the highest rates in decades.
Fed hike odds fall to 40%
July's core inflation slowed to its lowest pace since early 2021, making a Federal Reserve rate hike next month less likely (odds dropped from 50% to 40%).
Now everyone's watching August's inflation numbers and the annual central bank symposium in Jackson Hole, Wyoming, for clues on what happens next with rates.