10-year Treasury yield hits 3% for first time since 2014
The yield on the 10-year Treasury note hit 3% on Tuesday morning for the first time since 2014.
The benchmark yield helps set lending rates for auto loans, mortgages and other loans. Wall Street investors are concerned that higher interest rates may eat into corporate profits and signal inflation is coming. That could ultimately hurt the economy.
For now, investors are shrugging off the news. Stocks opened higher on Tuesday.