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The benchmark 10-year Treasury yield briefly approached 4% on Tuesday, a milestone level at which it hasn’t sustainably held above for more than a decade.The 10-year rate BX:TMUBMUSD10Y, which influences everything from mortgages to student and automobile loans, rose to as high as 3.976% at one point after inflation updates from France, Spain and the U.K. all pointed to no signs of a letup in price gains. Last September, when the 10-year Treasury yield briefly traded above 4% for the first time in at least 12 years, Dow industrials sank to the lowest levels of 2022 within days, followed by the S&P 500 a few weeks later….
