Lighthouse Canton flags “rates shock” as U.S. 10 — year yield hits 5.13% on hot PMI, hawkish Fed talk
Lighthouse Canton flagged a “rates shock” as hot US flash PMIs, sticky prices, hawkish Fed messaging drove Treasury yields to multi-year highs. UST 10y traded near 5.13% and the 2y near 4.91%; the 5-year topped 5% for the first time since 2007. A weak 5-year auction stopped at 5.033% versus 4.393% previously; CME FedWa