Market outlooks

Rising market rates ‘harbinger of misery’

US 20-dollar bill, issued by the Treasury Department. Photo: CC via Flickr.

The yield on US 10-year Treasury bonds topped 2.8 percent on Tuesday, the highest point since 2018. The 10-year yield thus technically breaks the downward trend line that dominated the government bond market for the last four decades. “This is a harbinger of misery.”

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