"Record-breaking 10-year Treasury yield surge leaves Federal Reserve silent"

The 10-year Treasury yield reached its highest level since 2007, hitting 4.80%, while the 30-year Treasury yield rose to 4.924%, also the highest in over a decade. The increase in yields comes as the Federal Reserve considers further rate hikes to combat inflation. Market uncertainty remains about the timing of a rate increase, with two central bank policy meetings scheduled for later this year. Rising yields have sparked concerns about the impact of high fiscal deficits and escalating government debt on borrowing costs.