The US 10-year Treasury yield, the benchmark for borrowing costs worldwide, hit 4.2%, approaching a 15-year peak of 4.3% hit in late October, as worries about inflation and aggressive Fed tightening spooked investors. The Federal Reserve delivered a widely expected 75 bps hike last week while flagging a longer monetary tightening path as the central bank seeks to bring down inflation to its 2% target. While recent data showed that the job market remains extremely tight, now, all eyes turn to October inflation data, due on Thursday, for more clues on future interest rate hikes. Meantime, Germany's 10-year Bund yield, the European benchmark, rose to as high as 2.3%, closing in on its highest level since August 2011.
