10-Year yield hits highest level since 2007 as bond selloff accelerates.
Treasury markets faced significant pressure as the 10-Year yield surged to 5.13%, its highest level since July 2007. Stronger-than-expected PMI data and rising oil prices initiated the move, while weaker Treasury auctions pointing to waning demand accelerated the selloff. The 10-Year yield closed up over 14 bps for the