10-Year Treasury yield hits 24-year high before pulling back.

Todd Colvin breaks down the Treasury market as 10-Year Treasury yields touched a 24-year high of 5.36% before reversing lower toward 5.28%. The turn came as stronger-than-expected demand at the 10-Year Treasury Note auction and safe-haven buying driven by European sovereign risk offset hawkish Federal Reserve minutes. Colvin also tracks how the CVOL Index mirrored the intraday pullback in yields and previews upcoming market catalysts, including weekly initial jobless claims and a $22 billion 30-Year Treasury Bond auction.