US 10-year bond yields hit 15-year high

Benchmark 10-year U.S. Treasury yields rose on Wednesday to their highest level in more than 15 years as investors weighed fears of persistent inflation and tighter monetary policy for longer than expected. The yield on the 10-year Treasury note rose 5 basis points to 4.612 percent. It rose as high as 4.566 percent on Tuesday, its highest level since 2007. The yield on the 2-year Treasury note also rose 6 basis points to 5.139 percent. The Commerce Department reported Wednesday morning that durable goods orders rose 0.2 percent in August, above the 0.5 percent decline expected by economists surveyed by the Dow Jones Industrial Average. That comes after the Federal Reserve said last week that interest rates would rise further and stay high for longer, raising concerns among investors about what that could mean for the economy. Meanwhile, concerns persist about the possibility of a U.S. government shutdown as early as Oct. 1 if Congress does not pass a deal to provide funding for the federal government before then.