News Summary

• The yield on the 10-year Treasury bond rose to 5.2%, marking its highest level in nearly 20 years.
• A debate has emerged about how much of the rise in yields is being driven by a strengthening economy.
• "The main reason that bond yields rose sharply is that the US economy is booming," said Ed Yardeni, chief investment strategist.
• Top Federal Reserve policymakers view consumer strength as a primary driver of long-term yields, but not everyone agrees growth is the main factor.