U.S. Treasury yields surged Wednesday, with the 10-year note hitting 5.058%, its highest level since 2007. Two- and 30-year yields also climbed as traders reacted to stronger-than-expected economic data. S&P Global’s services PMI jumped to 58.7 and manufacturing to 56.7, indicating robust business activity. Economists noted booming conditions but highlighted sharply rising input costs, driven by higher fuel and transportation expenses linked to oil prices. Fed Governor Michael Barr said additional rate hikes are likely as inflation risks grow. Following the latest data, market odds of another quarter-point rate increase in October climbed to 64%, up sharply from a month earlier.
This update represents a notable development in the Board sector. Organizations and founders tracking this space should evaluate potential strategic and technical implications on their operations.