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Stocks fall after Treasury yield hits 5%
Stocks fall after Treasury yield hits 5%
Investors were waiting for the right moment to return to the frigid bond market. On Monday, some of them took the plunge.
A months-long bond sell-off helped push the 10-year U.S. Treasury yield above 5% Monday morning for the first time since 2007. Some investors saw the milestone as a buying opportunity, quickly bringing yields down to 4.836%. Yields increase as prices fall.
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