Continued Upswing for the 10-Year

U.S. 10-year Treasury yields continued their upswing throughout February, starting the month at 2.77% and climbing to as high as 2.94% before moving down to a current yield of 2.87%. The markets were rattled earlier this week as new Federal Reserve Chairman Jerome Powell delivered a message that the U.S. economy is doing well, maybe even better than he had thought late last year. Yields climbed immediately after his comments before settling down amid new speculation that the Fed would accelerate the pace of hikes in its benchmark rate this year.