New York CNN —
A key borrowing rate for American consumers has jumped to a level not seen in months.
The yield on the benchmark 10-year US Treasury note breached 4% on Monday for the first time since August. The yield reached as high as 4.029% during the day, according to Tradeweb.
That is extending a jump in the 10-year yield last week after a blowout September jobs report on Friday led investors to recalibrate their expectations for how much the Federal Reserve will cut rates this year.
Since the stronger-than-expected report, traders
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