Markets around the globe are keeping a close eye on the U.S. bond market after the yield on the 10 -
year Treasury note topped 3 percent on Tuesday for the first time in several years.
On Tuesday, the yield on the 10 -
year Treasury note topped 3 percent, the first time it's done this in more than four years, and extended gains on Wednesday.
Not exact matches
The yield on the U.S. 10 -
year Treasury note added roughly 60 basis points this
year,
topping the 3 percent mark this week for the first time in four
years.
In a
year marked by a significant milestone for rising interest rates (the 10 -
year Treasury note yield
topping 3 percent), an unusual winner has begun to emerge in the stock market: utility stocks.
The 10 -
year Treasury note's yield, which serves as a benchmark for everything from U.S. mortgages to borrowing costs for municipalities, fell in November to as low as 2.3 percent and
topped out at 2.41 percent.