The benchmark 10-year US T-bond yield hit its highest level since May 2019 above 2.3%. Economists at OCBC Bank expect Treasury yields to stabilize in a range of 2.05-2.25% in the coming weeks.

10Y yield to reach 2.5% by year-end

“We expect Treasury yields to stabilize with upside limited in the near term; the 10Y UST yield is likely to trade in a range of 2.05-2.25% in the coming weeks.”

“Further head, we look for the 10Y yield to reach 2.5% by year-end.”