Yields climbed on Monday, led by advances in 5- through 10-year rates, as investors await the start of Treasury’s quarterly refunding process . The 10-year yield jumped 6 basis points to 4.908%, with Wall Street bracing for roughly $1.5 trillion in further borrowing needs from Treasury during the fourth quarter and first quarter of 2024. Treasury’s round of announcements is expected by some strategists to overshadow Wednesday’s policy announcement from the Federal Reserve.
