US Treasury Yields Surge—What It Means for the Bond Market

The benchmark 10-year Treasury yield heads toward 4.5 percent.

A businessman clicks a bonds virtual screen. Funtap/Shutterstock

Yields in the U.S. Treasury market, a critical place for investors seeking shelter from turmoil and for the government to raise money, have been heating up.

The benchmark 10-year Treasury yield shot up to about 4.5 percent during the trading session on April 11, a sharp reversal after closing below 4 percent the prior week. The roughly 50 basis-point increase represented one of the largest spikes on record.