US yields surge as retail sales spur higher rate outlook
From nasdaq.com
Treasury yields surged on Tuesday after U.S. retail saleslast month rose more than expected andlifted the two- and five-year notes to 17- and 16-year highs, as investors bet the Federal Reserve will keep interest rates higher for longer. The 10-year note, a benchmark for mortgage rates and a widely held safe haven, jumped almost 15 basis points in its largest one-day gain since late July, while the two-year surged almost as much in its biggest daily advance since early July. Retail sales increased 0.7%, the Commerce Department said, while data for August was revised higher to show sales advancing 0.8% instead of 0.6% ...
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