U.S. 10-year treasury yield hits 5 percent for first time since October 2023

The yield on the U.S. 10-year Treasury note climbed above 5 percent during intra-day trading on Monday, marking the first time it has crossed that threshold since October 2023.

Data showed the benchmark yield rose in early trading, surpassing 5 percent and peaking at 5.017 percent, up 4.3 basis points from the previous session's close, before later slipping back below 5 percent.

Market analysts attributed the move to growing uncertainty over U.S. monetary policy, as well as a reassessment by global investors of the Treasury's traditional "safe-haven" status.

The recent uptrend in long-term yields has been driven by a combination of factors, including rising oil prices amid Middle East tensions that have heightened concerns over the U.S. inflation outlook, alongside the continued expansion of U.S. government debt.

U.S. 10-year treasury yield hits 5 percent for first time since October 2023

Canadian Prime Minister Mark Carney has called on the 10 European Union (EU) member states yet to ratify the Comprehensive Economic and Trade Agreement (CETA) to approve the pact.

During an interview on Monday, he said deeper Canada-EU economic links would boost resilience, autonomy and prosperity for all sides.

Canada and the EU signed CETA in Brussels, Belgium, in October 2016. Some parts of the agreement have been under provisional application since 2017, while full ratification hinges on parliamentary approval by all EU member states.

Among the EU's 27 member states, 10 have still not ratified the pact. Their main concern is that agricultural exports from Canada would hurt local European farmers.

Canada urges EU to approve trade deal