The yield on the benchmark 10-year Treasury TMUBMUSD10Y, 1.751% rose as high as 1.78% on Tuesday, the highest level since Jan. 2020.

Prices move in the opposite direction to yields.

There wasn’t any obvious new catalyst for the move, which comes on the final day of the quarter and ahead of fresh U.S. jobs data at the end of the week.

Yields more broadly have backed up due to the rollout of vaccination programs, the passage of fiscal stimulus, and the possibility ...

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