Treasury Yields Rise, 10 Year Remains Below 5%

Treasury yields resume their way up as Fed expectations, the US’s widening budget deficit and other factors curb demand for government debt. The 10-year is at 4.864%, after briefly piercing the 5% level yesterday. Spartan’s Peter Cardillo says a near-term peak may have been reached. The two-year is at 5.110%. The CME’s FedWatch tool prices 99.4% odds of a hold by the Fed next week, while a hike in December gets around 26% odds.