2023-08-20 11:33
U.S. Treasury yields jump and stocks dip on rate, China concerns
WASHINGTON Longer-dated U.S. Treasury yields hit a 10-month high Thursday as Wall Street accelerated losses into the close and investors grappled with the potential for longer-lasting high interest rates and a struggling Chinese economy. Benchmark 10-year yields reached 4.312% in trading and tested October's 4.338%, before moving lower to 4.29%. The 30-year yield hit 12-year highs. A steady stream of stronger-than-expected economic data, coupled with Wednesday meeting minutes suggesting Federal Reserve officials are still focusing on containing inflation, boosted yields while putting a damper on stocks and other markets.

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