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The 10-year yield moved above the 5% mark after a Federal Reserve rate increase and comments from Chairman Kevin Warsh highlighting persistent inflation risks.
The Dow Jones Industrial Average fell on Wednesday after the Federal Reserve hiked interest rates for the first time in three years.
In a widely anticipated move, the Fed raised the overnight funds rate by a quarter percentage point and signaled another hike could come this year.
Forecasts of further rises in the inflation rate mean some analysts expect the Bank to act by the end of the year.
MarketWatch photo illustration/Getty Images, iStockphoto
President Donald Trump previously threatened to cut off trade with countries that have trade surpluses with the U.S. if the Fed doesn't cut interest rates.
The Fed should have hiked rates by half percentage point rather than a quarter, the investor told CNBC.
The Fed's quarter-point rate hike will impact a range of consumer borrowing and savings costs, including mortgages, credit cards, car loans and deposit rates.
The Federal Reserve unanimously raised interest rates by a quarter point despite repeated calls from President Donald Trump for lower rates.
The Fed on Wednesday delivered a much-expected interest rate hike.
The Federal Reserve raised its benchmark interest rate by a quarter percentage point.
Fed raises interest rates by quarter point to tackle inflation The Washington Post
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