10-Year Yields Highest Since 2011 Before Expected Fed Rate Hike

10-Year Yields Highest Since 2011 Before Expected Fed Rate Hike
A U.S. dollar note in front of a stock graph in this picture illustration on Nov. 7, 2016. Dado Ruvic/Reuters
Reuters
Updated:

NEW YORK—Benchmark 10-year U.S. Treasury yields jumped to their highest level since 2011 on Monday as investors adjusted for the likelihood that the Federal Reserve will hike rates higher and for longer than previously expected as inflation remains near multi-decade highs.

Data last week showed higher-than-expected consumer prices in August, dashing hopes that the worst of rising price pressures may be in the past.