4.282%"The Anchor for Global Asset Pricing" continues to soar.

The yield on US Treasury bonds fluctuated on Thursday as investors digested the minutes of the Federal Reserve's meeting released yesterday and considered inflation and interest rate prospects. At the close of US stock market, the yield on the 10-year US Treasury bond, known as the "anchor of global asset pricing," rose by more than 2 basis points to reach 4.282%, the highest level since mid-2008. Meanwhile, the yield on the 2-year US Treasury bond decreased by over 4 basis points to 4.933%. Investors weighed inflation and the future direction of the Federal Reserve's monetary policy while digesting the minutes of the Fed's meeting last month. Policymakers noted that concerns about inflation still exist, which could prompt them to tighten monetary policy based on economic conditions, implying the possibility of future interest rate hikes. Previously, many investors had hoped for and expected the Fed to announce a 25 basis point rate hike at the July meeting, signaling the end of the central bank's hiking cycle. Since the beginning of 2022, the Fed has been raising interest rates to cool down the overheating economy and bring the inflation rate within the target range of 2%. In the minutes of the July meeting, Fed officials pointed out that inflation remains elevated, but there are signs of easing pressure from high prices. New inflation data has been released since the last meeting, but the situation is mixed. The Consumer Price Index in July increased by 0.2% on a monthly basis, in line with expectations, while the Producer Price Index for the same month slightly exceeded forecasts with a growth of 0.3%. The number of weekly jobless claims as of August 12 was slightly lower than expected, and the Philadelphia Fed's manufacturing index for August also rose compared to July, exceeding market expectations.