For instance, the yield on 10-year US Treasury bond has shown an increase of about 160 basis points from a record low of just 1.37 percent nearly two years ago. Although part of the adjustment associated to the electoral process of 2016 reverted in subsequent months, the above-noted upward trend in longterm yields resumed in September last year.
Since then, they have increased by nearly a full percentage point. To add some perspective to these developments, the corresponding figure during the “taper tantrum” episode of 2013 amounted to some 130 basis points between May and September of that year.