10-year US Treasury bond yield rises to 5%

On October 23, the US 10-year Treasury yield increased to 5% for the first time since 2007. Major stock indexes in Asia-Pacific all fell on the trading day on Thursday. three in a row and European stocks generally opened lower

This impact on financial conditions is equivalent to three 25 basis point interest rate hikes since the September Fed meeting. If Treasury yields continue to rise, the Fed may need to consider cutting reduce interest rates sooner