10-year Treasury yield hits its highest level since 2014
- The yield on the 10-year Treasury note hit 2.96 percent Friday, hitting its highest level since Jan. 10, 2014.
- "We've seen a bounce in the economic activity and a bounce in the inflation numbers," said Robert Tipp, chief investment strategist at PGIM Fixed Income.
- Burgeoning inflation expectations led to a rise in interest rates earlier this year, sparking a widespread equity sell-off.
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