U.S. 10-Year Yield Surges Toward 1.63%, Highest Level in a Year

The 10-year U.S. Treasury yield surged to almost 1.63% on Friday, reaching its highest level in more than a year.

The yield rose as much as 9.1 basis points, hitting 1.6282% and surpassing levels reached during an earlier selloff on March 5. The widely-watched benchmark has failed to close above 1.60% since early 2020, though it has hit that level in intraday trading several times in recent weeks amid episodic routs in the bond market. Friday’s moves followed a wave of futures selling during the Asia session.

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