U.S. Treasury yields rise sharply following strong economic data

(CNBC) U.S. Treasury yields surged higher on Tuesday as investors responded to strong U.S. economic data by betting on further rate hikes from the Federal Reserve. The yield on the benchmark 10-year Treasury note hit a daily high of 3.353%, adding roughly 16 basis points before settling around 3.347% for its highest close since mid-June.

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