# The 10-year Treasury yield surged to a 16-year-high 4.89% shortly after Friday's employment report showing 336,000 new jobs.

*business · news · 2023-10-10 · Investor's Business Daily*

## Key points

- Fed policymakers now indicate the rise in 10-year Treasury yield reduces odds of a November rate hike.
- Citigroup reported customers' credit card spending fell nearly 11% in September, signaling a slowdown.
- The real interest rate component of the 10-year Treasury yield has climbed as inflation expectations dropped.
- Powell attributes the yield rise to increased Treasury supply and strong growth, not to inflation fears.
- Markets now price in just 12% odds of a Fed rate hike on Nov. 1, down from 27% Friday.

**Companies:** Citigroup
**Countries:** United States

[Read the full story on Investor's Business Daily](https://www.investors.com/news/economy/cpi-federal-reserve-rate-hike-odds-dive-ahead-of-cpi-inflation-data-10-year-treasury-yield/)

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