The yield on the 10-year U.S. Treasury note touched 2% Thursday for the first time since mid-2019 after more evidence of sustained inflation caused investors to further increase their expectations for tighter monetary policies.
Yields, which rise when bond prices fall, had hovered in a tight range in the overnight session but jumped after the Labor Department released data showing that U.S. inflation accelerated to a 7.5% annual rate in January, a four-decade high.
