The yield on the US 10-year treasury note jumped to 2.605 percent soon before press time, the highest level since March 20.
The yield has increased by 25 basis points over the last three weeks and the spread between the 10-year and two-year yields have risen by six basis points to 18 basis points.
The benchmark yield has been rising ever since the Fed signaled no rate hike for 2019 at the end of the last month - a sign the markets had priced-in the dovish turn well in advance. After all, the talk of rate pause had first started doing the rounds in November 2018.
A sustained rise in the 10-year yield could bode well for the greenback.
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