What the numbers say:
The yield on 10-year U.S. Treasuries rose to 3.719 on Monday, reaching the highest level since the collapse of Silicon Valley Bank in mid-March.
Relevance: Growing concerns about the possibility of an unprecedented default on U.S. debt are likely pushing 10-year yields up. Bond yields go up as the prices of bonds go down, meaning that investors see U.S. Treasuries as less valuable than they did over the past two months.
What's Next: The prospect of another interest rate hike from the Federal Reserve next month will likely shape the trajectory of the 10-year yield in the coming months.
