Longer-dated US yields hit 16-year high on Fed rate outlook

Chicago Fed President Austan Goolsbee said on Monday that inflation remaining entrenched above the central bank’s 2% target remains a bigger risk than tight Fed policy slowing the economy more than needed. The yield on 10-year Treasury notes was up 9 basis points to 4.525% after climbing to 4.533%, its highest since October 2007.