MONEY: 10-Year U.S. Treasury Yield Climbs to Highest Level Since March

10-year yield climbed as many as 5.5 basis points to a high of 1.187%, a level last seen on March 19

The U.S. 10-year Treasury yield rallied to a nearly 10-month high Tuesday as investors worried that stimulus measures to combat the economic slowdown caused by COVID-19 could unleash a wave of inflation down the road. (FoxBusiness.com image)

(FoxBusiness.com) — The U.S. 10-year Treasury yield rallied to a nearly 10-month high Tuesday as investors worried that stimulus measures to combat the economic slowdown caused by COVID-19 could unleash a wave of inflation down the road.

The benchmark 10-year yield climbed as many as 5.5 basis points Tuesday to a high of 1.187%, a level last seen on Mar. 19, the same day California became the first U.S. state to issue stay-at-home orders slowing the spread of COVID-19.

The two-year yield, meanwhile, remained anchored near zero, touching 0.153%.

The action along the curve meant the spread between the 2-year and 10-year yields steepened to an almost four-year high of more than 103 basis points. A steeper yield curve indicates investors are anticipating an economic rebound will occur earlier in that time frame rather than later.

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