10-year Treasury yield rises to highest since 2007 as Fed rate-hike expectations rise

Traders work on the floor of the New York Stock Exchange (NYSE) on September 09, 2026 in New York City.Spencer Platt | Getty ImagesThe benchmark 10-year Treasury yield climbed to its highest level since 2007 on Tuesday as a sell-off in U.S. government debt deepened ahead of the Federal Reserve's interest-rate decision.The 10-year yield jumped more than 6 basis points to 5.025% as of 1.10 a.m. ET. On Monday, the 10-year yield had briefly crossed 5%, before sliding a little.One basis point equals 0.01 percentage point, and yields and prices move in opposite directions.Stock Chart IconStock chart iconYields on the U.S. 10-year Treasury since the start of the yearThe yield on the longer-dated 30-year Treasury bond, more sensitive to geopolitical risks, was up over 5 basis points at 5.384%. The 2-year Treasury note yield climbed about 4 basis points to 4.68%The move comes ahead of the Federal Reserve's two-day policy meeting beginning Tuesday, with markets pricing in higher chances of a quarter-point rate hike after August inflation remained well above the central bank's 2% target.Traders are pricing in a more than 92% chance that the Fed will raise rates by 25 basis points in its lates...