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Bond Report: 10-year Treasury yield rises to 5-month high as Fed’s Waller says tapering should start in November

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U.S. Treasury yields climbed on Tuesday, pushing the 10-year Treasury note back to its highest level since around May, as the stock market rose.

Federal Reserve Gov. Christopher Waller said that the central bank should begin tapering its monthly purchases of $120 billion in Treasurys and mortgage-related assets next month, affirming market expectations for a reduction in programs that were launched during the height of the pandemic but were viewed as no longer needed.

What are yields doing?What’s driving the market?

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