The 10-year hit the key 3% level for the first time since 2014 — and it could have big implications for stocks
AP Images
- The 10-year yield climbed above 3% for the first time since January 2014.
- The yield has been rallying amid worries that tariffs announced by President Donald Trump will spark inflation.
- Those worries have some suggesting four rate hikes by the Federal Reserve could be back in the picture for this year.
- Stock traders have been wary of rising interest rates, worrying it could dampen interest in shares.
Yields on 10-year Treasury notes on Tuesday morning finally reached the elusive 3% level, which the benchmark interest rate hadn't seen since January 2014.
The yield flirted with the level all day Monday, but it was Tuesday's stronger-than-expected home prices as measured by the S&P/Case-Shiller index that pushed it across the line.See the rest of the story at Business Insider
NOW WATCH: Wall Street's biggest bull explains why trade war fears are way overblown
See Also:
- One popular trade is stuck in its worst stretch in 35 years — but Morgan Stanley has the perfect strategy for a big comeback
- The stock market's 'secret medication for longevity' has vanished — and that leaves it highly vulnerable to a meltdown
- An overlooked corner of the market has been quietly crushing it — and Bank of America has 2 trades to capitalize on more strength