U.S. 10-year Treasury yield closes at 4.79%, highest since October 2023

The U.S. 10-year Treasury yield closed at 4.79%, marking its highest closing level since October 2023.
The move reflects renewed pressure across the Treasury market as investors price higher-for-longer rates and persistent inflation risk.
Because bond prices move inversely to yields, the rise represents a bearish development for longer-duration U.S. government bonds.