The benchmark 10-year U.S. Treasury yield has reached its highest level in more than three years as traders continue to assess the impact of rising inflation.
The yield on the 10-year Treasury note has reached its highest level since late 2018, trading above 2.87%. The yield on the 30-year Treasury bond jumped to 2.935%. (Yields move inversely to prices and one basis point is equal to 0.01%).
Investors continue to assess inflationary pressures. Last week, the U.S. Census Bureau reported that consumer prices rose 8.5% in March from the same period last year, its biggest annual increase since 1981. But core inflation for the month rose just 0.3%, which was below the 0.5% inflation forecast.
In the stock market, U.S. futures are down in premarket trading today (April 18) as investors brace for a week of major first-quarter earnings reports from companies such as Bank of America (BAC) and Tesla (TSLA).
