Rising Treasury Yields Rattle Markets as Investors Flee Stocks for Bonds

Relentless selling of U.S. government bonds has pushed 10-year Treasury yields to highest levels since 2007, rattling financial markets.

Higher yields draw investors to guaranteed returns of Treasuries and away from risk assets like stocks, pressuring equity prices.

Mortgage rates at multi-decade highs are weighing on the housing market as home sales drop.

The rising dollar tightens financial conditions, hurts U.S. exporters, and complicates other central banks' inflation fights.

Increased volatility in stocks, bonds and currencies signals unease about shifting Fed policy and rising deficits.