US 10-year Treasury yield could hit 6% as oil prices, debt worries mount: Pimco CIO

What happened: Pimco CIO Ivascyn told the Financial Times the US 10-year Treasury yield could move toward 6% in the near term, citing technical market pressures including hedge funds unwinding losing bond positions. Key numbers: The 10-year yield has climbed nearly 120 basis points this year and traded around 5.29%, just below last week's 5.34%, its highest since 2002. Why it matters: Ivascyn said further yield increases could trigger weakness across financial markets, particularly stocks and corporate bonds, as higher yields tighten global financial conditions and raise borrowing costs. Coverage: 4 outlets in 24h

Pimco CIO Ivascyn told the Financial Times the US 10-year Treasury yield could move toward 6% in the near term, citing technical market pressures including hedge funds unwinding losing bond positions.

Ivascyn said further yield increases could trigger weakness across financial markets, particularly stocks and corporate bonds, as higher yields tighten global financial conditions and raise borrowing costs.