The 10-year Treasury yield rose to the highest level since 2011

The 10-year Treasury yield rose to the highest level since 2011

(Reuters) – Yields on the benchmark 10-year US Treasury rose to their highest in more than 11 years on Monday as investors prepared for the Federal Reserve’s monetary policy decision on Wednesday, when it is expected to raise interest rates again.

The 10-year yield, the world’s most important benchmark for interest rates, rose as much as six basis points to 3.508%, the highest level since April 2011.

The Federal Reserve meets on Wednesday. Money markets are pricing with an 80% chance of a 75 basis point move, and a 20% chance of a 100 basis point rate hike.

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