U.S. 10-year Treasury yield reaches 4.812%, highest since October 2023

JUST IN: The U.S. 10-year Treasury yield has climbed to 4.812%, its highest level since October 2023.
The move reinforces the renewed selloff in longer-duration government debt and reflects increasing expectations that interest rates may remain elevated for longer.
Higher benchmark yields can also tighten financial conditions by raising borrowing costs across mortgages, corporate credit and equity valuation models.