According to Bloomberg, the U.S. Treasury market showed signs of unease on October 9, with term premiums rapidly climbing, becoming a significant driver of the Treasury sell-off and exacerbating market concerns about persistently high long-term interest rates. The New York Fed's model estimates that the 10-year Treasury term premium has risen to approximately 0.98%, the highest since 2014; another model's estimate reached 1.08%, a new high since 2010. Minneapolis Fed President Neel Kashkari once likened term premiums to "dark matter."