US 10-year yield breaks the October high — now highest since pre-financial crisis

<p>You haven't been able to get paid this much holding US 10-year notes since before the financial crisis.</p><p>US 10-year yields are now up 9.7 basis points on the day, breaking the October high of 4.33% and rising to 4.35%. That's the highest since November 2007.</p><p>The high of this century is 5.33%, which is still a full point away but there's now plenty of talk about 4.50% as the next level to watch.</p><p>If you're Powell and writing your Jackson Hole speech, you have to worry that the market is saying that we're entering a structural regime of higher rates or that the market is worried that China's bond holdings are in question.</p><p>In any case, the bond market is running everything right now and this move higher in yields has sent the S&amp;P 500 back to flat and the US dollar higher across the board.</p>

This article was written by Adam Button at www.forexlive.com.