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The 10-year Treasury yield has hit the 3% level – here’s what that means

The 10-year U.S. Treasury yield has broken through the “psychologically important” level of 3 percent, leaving analysts contemplating what it could mean the future of asset markets and, more importantly, the global economy.

The yield on the benchmark bond — which helps to set prices for debt instruments all over the world — inched past 3 percent Tuesday, a level that many market players deem dangerous for investments and the economy.

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