US 10-year Treasury yield hits 5% ahead of Federal Reserve decision

The US 10-year Treasury yield climbed two basis points to 5% on Monday, marking its highest level since October 2023 ahead of the Federal Reserve's policy decision.

The 2-year Treasury note yield advanced more than two basis points to 4.666%, and the 30-year Treasury yield gained two basis points to 5.374% amid growing inflation worries.

Traders priced in about a 90% chance of a quarter-percentage-point rate increase at the central bank's September 15–16 meeting following elevated August inflation data.