The spike in the 10-year U.S. Treasury yield eased on Thursday morning, with it rising slightly to hover above 1.83%.
moved 1 basis point higher to 2.1522%. Yields move inversely to prices and 1 basis point is equal to 0.01%.The 10-year rate hit 1.9% in early trading on Wednesday, amid mounting anticipation that the Federal Reserve would soon raise interest rates.
Concerns around the timing of central banks tightening monetary policy, and rising inflation, has seen bonds yields jump this week. The two-year U.S. Treasury yield, which reflects short-term interest rate expectations, also topped 1% for the first time in two years on Tuesday. It traded at 1.0474% early on Thursday morning.traded in positive territory for the first time in nearly three years on Wednesday morning but had fallen back to -0.018% in early trading on Thursday.
Willem Sels, global chief investment officer, private banking and wealth management at HSBC, told CNBC's " " on Thursday that he expected the market to "flip-flop" around the interest rate outlook, particularly in terms of the rotation between so-called growth and value stocks.
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