Mumbai, July 2 -- The US 10-year Treasury yield rose yesterday after Senate Republicans passed their version of the White House's massive tax-and-spending legislation, which could add at least $3 trillion to the federal deficit over the next decade. The 10-year Treasury yield cut recent declines and moved up from a two-month low. It is back above 4.20% mark and currently quotes at 4.26% as focus shifts to global geopolitics and US labour markets. Debt markets also followed latest comments from Federal Reserve Chair Jerome Powell as he noted that the central bank held off on cutting interest rates due to concerns about tariff-induced price hikes on consumers.

Published by HT Digital Content Services with permission from Capital Market....