30-year Treasury yield on edge of 5% after strong September U.S. retail sales

Vivien Lou Chen is a Markets Reporter for MarketWatch. You can follow her on Twitter @vivienlouchen.

Treasury yields jumped Tuesday morning as September retail sales came in above expectations and President Joe Biden prepared for a trip to the Middle East to ease concerns that the Israel-Hamas conflict might expand.

Meanwhile, hopes that Wednesday’s trip by U.S. President Joe Biden to the Middle East may help prevent the Israel/Hamas war from causing a wider regional conflict helped reduce demand for perceived safety plays, such as U.S. Treasurys. Other U.S. economic updates released on Tuesday showed that U.S. industrial output was up 0.3% in September, with strikes by autoworkers having limited impact.

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