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10-Yr Treasury Yield Cruises Past 3%

May 25, 2018 : Permanent Link

(Harvest) Last month the 10-yr treasury yield hit 3% for the first time since 2014. This level touched off a steep stock market decline, as investors grew increasingly concerned about higher interest rates and inflation, and their subsequent effect on corporate profits. Short term rates have risen as well, causing a flattening yield curve – which has often signaled a slowing economy or a recession on the horizon. A comment by a corporate executive on the Caterpillar quarterly conference call about peak earnings weighed heavily on market sentiment as well.

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