10-Year Treasury Yield Climbs to Record 4.23% Since 2008—10-Year Shouldn't Act Like a Meme Stock, Wells Fargo's Schumacher

Per CNBC

10-year Treasury yield has increased to 4.23% due to a 10 basis points bump. This was the highest level recorded since 2008.

At one point, the 10-year Treasury yield hit 4.337%.

Wells Fargo's Michael Schumacher says that 4% is reasonable but says the "4.22% has become unanchored." The company's Head of Macro Strategy explained that nobody needs the "10-year to act like a meme stock. That is not healthy."

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