Yield on the 10-year Treasury note edged higher on Monday at 4.6371%, touching 16-year highs again, while the yield on the 2-year note, which best reflects interest rate expectations, remained above 5%. “The Fed has said that their target is still 2% and they are still long ways away from getting inflation really going in the direction that they want,” said Russell Hackmann, President of Hackmann Wealth Partners.
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