Treasury Yields Climb as Home Sales Rebound Despite High Mortgage Rates
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U.S. 10-year Treasury yield climbed to 4.904% after strong September home sales data.
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New home sales rebounded 12.3% to an annual rate of 759,000 units in September.
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Mortgage rates near 8% could curb last month's strong housing demand.
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Fed likely to maintain high interest rates into 2024 to curb persistent inflation.
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30-year Treasury bond yield rose to 5.036% amid inflation concerns and economic strength.