Treasury 10-year yield up to 2.75% for first time since 2019

FILE PHOTO: The United States Department of the Treasury is seen in Washington, D.C., U.S., August 30, 2020. REUTERS/Andrew Kelly/File Photo

SINGAPORE: Treasury 10-year yields climbed to 2.75% for the first time since March 2019 as investors price in the impact of the United States Federal Reserve’s (Fed) tightening plan and accelerating inflation.

The benchmark yield jumped as much as five basis points after surging 32 basis points last week when Fed governor Lael Brainard said the central bank will raise interest rates steadily while starting balance-sheet reduction as soon as May.