Treasury yields are again marching higher.
The U.S. 10-year Treasury yield has topped 1.77% as COVID-19 vaccine rollouts and planned infrastructure spending boosted expectations of a broad economic recovery and rising inflation.
The yield on the benchmark 10-year Treasury note jumped to 1.772%, its highest level since January 2020. The yield on the 30-year Treasury bond rose to 2.456%. Yields move inversely to prices.
The rise in yields comes a day ahead of U.S. President Joe Biden revealing details of his infrastructure plan that is expected to include up to $3 trillion in spending to help bolster the U.S. economy.
The move higher in yields also comes amid increasing talk of inflation, as the U.S. economy starts to recover. There were already concerns that the $1.9-trillion stimulus spending package signed earlier this month could stoke rising prices in the United States.
