Market stability concerns as US 10-year treasury yields inch towards 3%

Closed at 2.966% on Monday

The yield on the 10-year US Treasury note climbed to 2.99% on Monday (23 April), edging closer to the benchmark 3% level, which could spark volatility across global financial markets.

Closing at 2.966% on Monday, the 10-year yield reached its highest level since January 2014, while the 30-year yield was also higher at 3.143%, driven by signs of growing inflation and impending interest rate hikes in the US. Powell marks start of Fed tenure with rate rise; Warns asset prices are 'elevated' in some areas The rising yields could impact global stock markets, demonstrated by February's correction, which saw the yield reach 2.9% and help to spark concerns about rising borrowing costs. Speaking to the FT, Koon Chow, strategist at UBP said: "Investors are taking the view...