Fed’s Waller Says Jump in 10-Year Yields Is an ‘Earthquake’

(Bloomberg) — A jump in US yields over recent weeks amounts to nothing less than an “earthquake” for the bond market, according to Federal Reserve Governor Christopher Waller.

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Yields on 10-year Treasuries have climbed more than 100 basis points since the end of July, and are consequently capturing “a tremendous amount of attention,” he said Tuesday, during remarks at a lecture about economic data. While government bonds have rallied over the past few days,…