10-Year Yield Hits 3 Percent, Is A Correction Looming?

Peter Cardillo, chief market economist at Rockwell Global Capital, weighs in on the 10-year yield hitting 3 percent and how it will impact U.S. markets in the short-term and long-term. As of 1:14 p.m. Eastern on Friday, the 10-year rose 1 basis point, or 0.38 percent, to 3 percent.