10-year Treasury yield records longest streak of daily increases since 2017

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The benchmark 10-year Treasury note booked its seventh consecutive increase on Tuesday, its longest streak since September 2017 when the Federal Reserve started to cut the size of its post-crisis balance sheet under former Fed Chairman Janet Yellen. Yet the Fed’s portfolio has ballooned after the central bank stepped in to support the economy and markets last March. The 10-year note yield was up 0.5 basis point to 1.136% on Tuesday. The bond market has come under sustained pressure in January amid expectations for additional fiscal stimulus under a Biden administration and a Democratic-controlled Congress.
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