The 10-year United States Treasury yield is now returning to the levels it last had six months before the coronavirus pandemic, as the economic outlook improves overall, St. Louis Federal Reserve Bank President James Bullard said on Friday. The better economic expectations are bringing real yields higher, he noted but also added that the 10-year yield level is still quite low. The 10-year yield hit highs last seen in October 2019 and was at 1.561%, rising by 1.1 basis points at 12:37 pm ET. Commenting on inflation, Bullard stated that he would support a 2% inflation target on a sustained basis.