EXPLAINER: Why rising rates are unsettling Wall Street
NEW YORK (AP) — Rising expectations for the economy and inflation have caused U.S. Treasury yields to spurt higher, with the jump unsettling stock markets. These yields are the baseline off which investors try to figure out the value of everything from Apple stock to junk bonds, and their rapid rise is forcing a reassessment about how much to pay for them and every other investment. Investors pay particular attention to the 10-year Treasury note, which is back above 1.50% after starting the year around 0.90%. Thursday’s rise sent stocks on Wall Street on another slide.