What a 10-year Treasury yield above 4% says about the economy

Bond traders started the week by selling U.S. government debt following strong job gains in September, leading to an increase in the benchmark 10-year yield. The rise in yield surpassed the level typically associated with a healthy economy, signaling a brighter economic outlook and prompting continued selling of government bonds. Bond traders reacted to the outsized job gains by adjusting their positions, pushing the 10-year yield above its usual threshold.

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