Monday\'s close 4.75%
By MortgageDaily.com staff
3/7/2006

The 10-year treasury yield closed Monday at its highest level in nearly two years.

The 10-year note reportedly yielded 4.75%, rising 7 basis points within the day and almost reaching the 2-year Treasury note's yield, which increased only 3 BPS today to 4.76%, to further flatten the yield curve inversion.

The 10-year Treasury note is at the highest level since June 28, 2004, the day before the Federal Reserve began a series of interest-rate hikes that has not yet ended. The federal funds target rate has increased 14 consecutive times in increments of 25 BPS to the current level of 4.5%.

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