Focused on 10-Year Yields? Traders Yes, the Fed No

Financial news is always awash in numbers, but there’s one figure that seems to be getting more attention than anything else: the yield on 10-year U.S. Treasury notes. Not only are investors laser-focused on it, but gyrations in other asset classes have been driven by its movements this year. Increases that reach market milestones could have big implications for everything from U.S. stock prices to the value of emerging-market securities — even though Fed Chairman Jerome Powell says he sees no

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