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10-year Treasury yield rises to highest level in more than three years

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On Monday, the U.S. Treasury benchmark yield for 10-years rose to an all-time high of 1.03%. This was due to traders continuing to evaluate rising inflation.

The yield of the 10-year Treasury noteAt 5:44 am, ET rose 5. basis points to 2.866% ET is at a high level that was last witnessed in the latter part of 2018. The yield on 30-year Treasury bondTo 2.942%, the yields jumped by 2 basis points. Yields are inversely related to price movements and one basis point equals 0.01%.

The inflationary pressures remain a concern for investors. The U.S. Census Bureau released its latest figures last week reported a 0.5% gain in MarchThe Dow Jones expected a 0.6% increase in sales. It was gas stations that were the largest driver of sales. The Bureau of Labor Statistics announced Wednesday that March was the largest month for gas stations. producer price indexThe indices that track wholesalers’ prices rose 11.2% in the past year. This is its largest gain since 2010.

This reading was done a day following the last consumer price indexThe indices showed that prices rose 8.5% between March 2001 and March 2002, the largest increase in inflation since 1981. Core CPI rose 0.3% in March, below 0.5% inflation forecast.

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A survey of business leaders is scheduled to be released at 8:30 AM. ET. A NAHB survey will follow at 10 AM. ET.

In the stock market, U.S. futures declinedEarly Monday morning, investors positioned themselves for major earnings reports in the coming week.

The Russia-Ukraine conflict is also being closely monitored by investors. Denys Shmyhal, the Ukrainian Prime Minister, stated on Sunday that remaining Ukrainian troops in Mariupol’s southern port are fighting despite a Russian request to surrender.

— CNBC’s Vicky McKeever and Sarah Min contributed to this market report.

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