Two-Year U.S. Treasury Yields Hit 16 Year High, as Investors Are Spooked by Latest Jobs Report

The U.S. Federal Reserve building is seen past caution tape in Washington, D.C., on Sept. 19, 2022. Stefani Reynolds/AFP via Getty Images

The latest U.S. jobs report led investors to raise the yield on the 2-year Treasury note to its highest level in 16 years while dumping their stocks.

There was serious concern that strong U.S. employment levels would encourage the Federal Reserve to continue raising interest rates.