10-Year Treasury Yield Jumps To 3.51%, The Highest Level Since 2011

• Treasury yields climbed on Monday as traders anticipated the Federal Reserve’s next moves in the face of persistently high inflation.
• The benchmark 10-year Treasury yield gained 6 basis points to 3.518%, hitting its highest level since April 2011. The yield on the 2-year Treasury bond rose 8 basis points to trade at 3.942%, trading around levels not seen since 2007.
• The Fed’s two-day meeting will begin Tuesday, with most market participants expecting another 75-basis-point hike by the central bank. Some analysts have, however, argued the Fed could increase interest rates by a full point, or 100 basis points.
• It comes after inflation rose more than expected in August. The consumer price index increased 0.1% for the month and 8.3% over the past year — higher than economists expected. The data has led investors to expect the Fed to double down on higher interest rates for longer until prices fall.

(Source: CNBC)