"Record Retail Sales Propel 10-Year Treasury Yields to New Highs"
TL;DR Summary
US Treasury yields surged to new highs for 2024, with the 2-year note nearing 5%, following strong retail sales data that diminished expectations of Federal Reserve interest rate cuts this year. The 10-year note's yield reached 4.63%, the highest since mid-November, after March retail sales surpassed expectations and February's figures were revised upwards.
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