datoid

The 10-year Treasury yield jumped to 4.42% on March 26, marking a 2.5 standard deviation move above its 60-day average of 4.18% (σ: 0.09). This represents the highest level in the recent dataset, following a steady climb from 3.97% in late February. The spike coincides with notable economic conditions: unemployment at a record low 4.30%, CPI rising 1.8% over 3 months to a record high, and GDP growth of 1.4%. This combination suggests potential inflationary pressures in a tight labor market. Given the magnitude of this yield movement, what factors are driving bond investors to demand higher returns?